Meesho IPO news: The wait for the IPO of the country’s well-known e-commerce company Meesho may end soon. According to a report published in Hindustan News, if everything goes right, the company can launch its IPO in the month of December.

According to an industry source, the company has decided its valuation after road shows and discussions with investors. Soon the company will be ready for listing in the Indian stock market. Draft papers were filed confidentially with SEBI on behalf of the company in the month of July.

meesho ipo details

Meesho is preparing to enter the stock market and under this the company is planning to raise about Rs 4,250 crore. This IPO will include a fresh issue of the same amount, while some old investors of the company are planning to sell their 17,56,96,602 shares.

Early investors like Elevation, Peak XV, Venture Highway and Y Combinator can sell their shares. According to the information received, these investors can sell about 5 to 7 percent of their stake in the market. The responsibility of taking the IPO forward is being handled by Kotak Investment Banking, JP Morgan, Axis Capital, Citi and Morgan Stanley, who will be its book running lead manager.

What will happen to the money raised from IPO?

Meesho will invest the amount raised from IPO in Meesho Technologies Private Limited (MTPL). The company plans to use the IPO money on cloud infrastructure, AI and machine learning team salaries. There is also a plan to invest in things like marketing and company branding.

Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)

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E-commerce startup Meesho has received approval from its shareholders to raise 4,250 crore through IPO. The proposal passed in the Extraordinary General Meeting (EGM) on June 25 and its information came to light in the regulatory filing of June 27. Meesho is now starting the process of raising funds from the stock market, in which fresh equity shares will be issued and some existing investors will also be able to sell their shares.

Next step, file DRHP to SEBI

However, the final size of the IPO has not been decided yet. For this, Meesho will have to file its draft red herring Prospectus (DRHP) with the Indian market regulator SEBI. According to reports, the company is planning to file it through confidential filing route. Only after the approval of SEBI, the company will be able to raise money from the public through the IPO.

CEO Vidit Atre became chairman and managing director

The shareholders have also approved the appointment of the company’s co-founder and CEO Vidit Atre as the chairman and managing director of the company. This step has been taken towards making the company’s leadership stronger, especially when it is preparing to bring an IPO.

‘Return’ to India from America

Before the IPO, Meesho took another major step and has shifted its domicile from America to India. According to PTI report, Meesho Inc. registered in Delaware Ko his Indian unit Fashnear Technologies Pvt. Ltd. Has been merged

This merger has also received approval from National Company Law Tribunal (NCLT), Bengaluru bench. The Ministry of Corporate Affairs, Government of India has changed the name of Fashnear Technologies to Meesho Private Limited through a certificate issued on 13 May.

Flipkart is also on the same path

Like Meesho, Flipkart is also shifting domicle from Singapore to India before its IPO. This trend shows that Indian tech companies are now giving priority to listing in the domestic market, which will also give Indian investors a chance to become part of these growth stories.

Meesho’s IPO can create a big stir in the country’s startup IPO space in the coming time. The company’s return to India and preparing to become public is a sign that now Indian startups are ready to give Indian investors a straight part.

Disclaimer: (Information provided here is being given only for information. It is necessary to tell here that the investment market is subject to risks. Always consult expert before investing as an investor. Never is advised to invest money from Abplive.com.

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