Meesho Targets $6 Billion Valuation Ahead of Early December IPO Launch

Meesho, the SoftBank-backed Indian e-commerce company, is gearing up for a major public listing in early December. The firm is targeting a valuation of around ₹53,000 crore ($6 billion), reflecting investor confidence in India’s thriving IPO ecosystem.

Meesho’s IPO Plans and Valuation

Meesho Ltd., a leading e-commerce platform in India, is seeking a valuation of approximately ₹53,000 crore ($6 billion) in its upcoming IPO scheduled for early December 2025. The move positions Meesho among a growing list of firms leveraging India’s booming capital markets. With investors increasingly drawn to high-growth technology and e-commerce companies, the IPO is expected to generate significant market attention.

Pre-IPO Placement Discussions

According to Bloomberg News, Meesho is currently in discussions with SBI Funds Management Ltd. for a potential pre-IPO placement. The discussions, shared by anonymous sources familiar with the matter, indicate that the pre-IPO placement could influence the final IPO size, initially estimated at around ₹6,000 crore. These deliberations are still ongoing, and the timing and scale of the deal could change before final announcements. Meesho and SBI Mutual Fund representatives have not commented publicly on the discussions.

Structure of the Meesho IPO

The IPO is structured to include both a fresh issue of shares and an offer-for-sale by existing investors. Specifically, Meesho plans to raise ₹42,500 crore through the fresh issue, while existing investors will sell 17.57 crore shares via the offer-for-sale. The fresh capital will help Meesho accelerate growth, expand operations in smaller cities, and invest in technology infrastructure.

Meesho’s Financial Performance

Meesho has demonstrated strong financial health, generating ₹1,032 crore in free cash flow for the fiscal year ending March 31, 2025. This figure represents the highest free cash flow among publicly listed e-commerce firms in India, highlighting Meesho’s operational efficiency and strong business fundamentals. The firm’s solid financial track record is likely to boost investor confidence ahead of the IPO.

Advisors and Underwriters

Meesho has appointed a team of top-tier financial advisors for the IPO. Kotak Mahindra Capital Co. Ltd., Axis Bank Ltd., and the Indian arms of JPMorgan Chase & Co., Morgan Stanley, and Citigroup Inc. are advising the company. These institutions will guide Meesho through regulatory compliance, pricing strategy, and marketing to investors. Their involvement is expected to lend credibility and structure to the IPO process.

Meesho’s Market Presence

The company has gained significant traction in tier-2 and tier-3 Indian cities, where online shopping is rapidly growing. Its unique social-commerce model has helped small entrepreneurs and home-based sellers reach larger audiences, making it a standout player in India’s competitive e-commerce landscape. The IPO allows both Meesho and its early investors, including SoftBank, to monetize a portion of their holdings while raising fresh capital for expansion.

India’s Booming IPO Market

Meesho’s public listing comes at a time when India’s IPO market is experiencing robust growth. Companies have collectively raised nearly $19.5 billion in 2025, following a record $21 billion in 2024, according to Bloomberg data. The increasing investor appetite for tech and e-commerce firms positions Meesho’s IPO as one of the year’s most anticipated listings.

Conclusion

Meesho’s planned IPO is a significant step in its growth journey, offering investors a chance to participate in one of India’s fastest-growing e-commerce platforms. With a strong valuation, robust financial performance, and strategic advisory support, the company is poised to make a strong debut in the public markets. The pre-IPO discussions and structured offering signal a well-planned entry into India’s competitive capital market.