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Economic Times
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22
Image Credit: Economic Times
Meesho’s reverse flip may conclude this week; likely to file IPO papers this month, say sources
- Meesho is expected to conclude its redomiciling from the US to India this week, with plans to file for its IPO this month.
- The company aims for a $700-800 million IPO, subject to market conditions and may file under Sebi's confidential route.
- Meesho recently became a public entity and will become the parent company after the redomiciling process is completed.
- The company closed a $550 million funding round, valuing it around $3.9-4 billion, slightly below its peak valuation of $5 billion.
- Kotak Mahindra Capital, Citi, JP Morgan, and Morgan Stanley are set to be merchant bankers for Meesho's public issue.
- Meesho joins companies like Flipkart planning IPO; others like PhysicsWallah, Urban Company, Shiprocket, Boat, and Groww are also looking to go public this year.
- Meesho recorded a 34% YoY growth in orders during April-December 2024, reaching 1.3 billion orders.
- As of December 31, the company had 187 million unique annual transacting users, marking a 26% increase from the previous year.
- CLSA report stated Meesho's GMV at $6.2 billion, with an estimated 26% CAGR for the next six years and a 37% market share in orders for 2024.
- The company introduced Meesho Mall and Valmo logistics service, diversifying its revenue streams and enhancing logistics capabilities.
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