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Meesho elevates Milan Partani as GM of Commerce Platform; Megha Agarwal exits

Entrackr · 1d ago

Medial

Meesho elevates Milan Partani as GM of Commerce Platform; Megha Agarwal exits E-commerce marketplace Meesho has reported changes in its senior management, according to regulatory filings with stock exchanges. Milan Partani, previously General Manager User Growth and Content Commerce, has been appointed as General Manager Commerce Platform effective January 7, and will continue to be classified as a Senior Management Personnel. Separately, Megha Agarwal, General Manager Business and a Senior Management Personnel, has resigned from the company, effective the same date. The development comes weeks after Meesho’s stock market debut, where the company listed at a 46 percent premium to its issue price of Rs 111, opening at Rs 162.5 on the NSE and Rs 161.2 on the BSE. Meesho’s Rs 5,421 crore IPO included a Rs 4,250 crore fresh issue and a Rs 1,171 crore offer for sale. Ahead of the public issue, the company had raised Rs 2,440 crore from anchor investors. For the last fiscal year, Meesho reported revenue of Rs 9,390 crore and losses before exceptional items and tax of Rs 108 crore. In the first half of the ongoing fiscal year, its revenue stood at Rs 5,577 crore, according to its IPO filings. Meesho’s shares settled at Rs 173.13, giving the company a market capitalization of Rs 78,141.69 crore ($8.68 billion).