Meesho to rename legal entity ahead of $1 Bn IPO

Homegrown e-commerce platform Meesho has received board approval to change its legal name as part of a strategic move ahead of its public listing.

The company’s board and members have approved a special resolution to rename the entity from “Fashnear Technologies Private Limited” to “Meesho Private Limited,” according to a regulatory filing with the Registrar of Companies (RoC).

Meesho has built significant brand recognition, market leadership, and strong customer trust in digital commerce. The company has operated under the Meesho brand for years, and with the immense brand equity it has established, the board believes aligning the corporate identity with the brand name is a necessary step, the filing added.

This development comes just a month after reports indicated that Meesho is preparing for a $1 billion IPO. According to media reports, the firm shortlisted Morgan Stanley, Kotak Mahindra Capital, and Citi as its IPO advisers, with discussions ongoing to include JP Morgan in the syndicate.

The bankers have reportedly valued Meesho at $10 billion for its IPO, with plans to file draft documents in the coming months. The company aims to list on the stock exchange around Diwali this year.

In 2024, Meesho also launched its largest-ever ESOP buyback program, valued at Rs 200 crore (approximately $25 million), benefiting around 1,700 past and present employees, from junior executives to senior leadership. Earlier this month, Meesho co-founders exercised 27 lakh options worth $120 million. Entrackr was first to report this last month

On a year-on-year basis, the company saw a 33% year-on-year revenue growth, reaching Rs 7,615 crore in the fiscal year ending March 2024. It also reduced its adjusted losses by 97% to Rs 53 crore. During the first nine months of FY25, Meesho delivered 1.3 billion orders.