Meesho, an ecommerce marketplace, has converted into a public entity in preparation for its upcoming IPO as approved by its board and filings with the Registrar of Companies.
This conversion from 'private limited' to 'public limited' is a crucial step towards the IPO path, similar to what Lenskart did recently prior to its own planned IPO.
Meesho is in the process of reverting its domicile back from the US to India and has requested approval from the National Company Law Tribunal for the change. Its Indian entity's name has been changed to Meesho Pvt Ltd.
Meesho, supported by investors like SoftBank, Prosus, and Tiger Global, has named Kotak Mahindra Capital, Citi, JP Morgan, and Morgan Stanley as merchant bankers for its impending public issue.