Meesho eyes $1 Bn IPO at $10 Bn valuation: Report

Homegrown e-commerce platform Meesho plans to go public later this year, aiming to raise around $1 billion through an IPO, according to Moneycontrol.

The SoftBank-backed company aims to raise $1 billion at a $10 billion valuation, with JP Morgan potentially joining the IPO syndicate.

As per the report, Meesho plans to file draft documents soon and is expected to list around Diwali, during September–October.

Meesho is the third-largest horizontal e-commerce platform in India, after Flipkart and Amazon, claiming 14.5 crore unique annual transacting users. Between January and December 2024, the Vidit Aatrey-led company saw a 3X increase in order volume on the platform through content commerce. It has also partnered with over 21,000 creators.

Earlier this year, media reports suggested that Meesho closed a secondary transaction at a valuation of $3.9–4 billion. This was a 20% decline from its previous valuation of $4.9 billion.

According to TheKredible, Meesho registered a 33% year-on-year growth in operating revenue in FY24 to Rs 7,615 crore compared to Rs 5,735 crore in FY23.