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Meesho To File IPO Papers In Few Weeks Via Confidential Route
- Meesho, an ecommerce major, is set to file its IPO papers in a few weeks via the confidential route after board approval.
- The startup aims to raise $700 Mn to $800 Mn, lower than the speculated $1 Bn IPO.
- Investment bankers Citigroup, Kotak Mahindra Capital, and Morgan Stanley are involved in Meesho's public offering.
- Discussion about the IPO filing is ongoing and plans could change.
- Meesho recently became a public company for flexibility and alignment with IPO regulatory expectations.
- Meesho's board approved issuing 411.4 Cr bonus shares of INR 1 each to equity shareholders.
- Prosus ascribed a timeline of 18 months to Meesho’s public listing.
- On the financial front, Meesho is yet to disclose its financial numbers for FY25.
- Multiple tech companies, including Groww and Urban Company, are gearing up for public listings this year.
- New-age tech companies opt for confidential IPO filings to submit IPO papers without immediate public reveal.
- SEBI allowed confidential IPO filings in December 2022, an alternative to traditional IPO filing process.
- Swiggy and OYO have also considered confidential IPO filings in the past.
- VCs believe the confidential route allows founders to control public disclosure timing and avoid disruptions.
- Lenskart is reportedly planning to file its IPO confidentially in the upcoming weeks.
- Tech companies prefer confidential filings to manage public disclosure strategically.
- Meesho's IPO filing via the confidential route indicates growing trend of using this method among startups.
- The confidential filing route offers startups control over timing to market their IPO and avoid disruptions.
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