Domexit e-commerce platform Meesho may launch an Initial Public Offering (Meesho IPO) by the end of this year. The company wants to raise one billion dollars (about Rs 8300 crore) through this. Meesho will raise this funding at a valuation of 10 billion dollars (about Rs 85,500).
The company is also going to file draft documents for this in a few weeks. This information has been given by Moneycontrol. According to reports, Meesho has appointed Morgan Stanley, Kotak Mahindra Capital and Citi as its IPO advisors. Listing on the stock exchanges is expected between September-October this year.
Meesho’s Financial Growth
The company has raised a total funding of $50 million (about Rs 4705 crore). Earlier this year, Meesho had raised funds of about $250-$270 million (about Rs 2300 crore) from investors like Tiger Global, Think Investments and Mars Growth Capital. Then the valuation of the company was $3.9-4 billion (about Rs 34,242 crore).
Strong Financial Performance
In the financial year 2023-24, Misho generated a revenue of ₹ 7,615 crore. This is 33% higher than the previous financial year. In the financial year 2022-23, the company generated a revenue of ₹ 5,735 crore. During this period, the company’s net deficit declined from 97% to Rs 1,569 crore to Rs 53 crore.
E-Commerce Growth: Meesho’s Customer Base Expands
The platform of Meesho has seen a significant increase in its user base, with a 35% year-year increase by the end of 2024. The platform now serves 17.5 crore customers, in which more than half of its customers come from Tier -4 and small cities across India. This increase is a sign of meesho’s comprehensive appeal and ability to meet a diverse range of shopkeepers, especially in low urbanized areas.
Meesho’s Merger with Fashionier Technologies
As part of its ongoing expansion strategy, Meesho has filed an application for the reverse merger of its subsidiary, fashionier technologies, its US-based original company, Meesho Inc. The move aims to streamline operations and increase the global access of Meesho in the e-commerce sector.
