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vishakha Jangir
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Set2Score • 1d
𝗠𝗲𝗲𝘀𝗵𝗼 𝗴𝗲𝘁𝘀 𝗮𝗽𝗽𝗿𝗼𝘃𝗮𝗹 𝗳𝗼𝗿 𝗮 ₹𝟰,𝟮𝟱𝟬 𝗰𝗿𝗼𝗿𝗲 𝗜𝗣𝗢 !! Meesho has received shareholder approval to raise ₹4,250 crore through an Initial Public Offering (IPO). The company is backed by global investors including SoftBank. The IPO will involve a fresh issue of shares as well as an offer for sale (OFS) by existing investors. Meesho operates in the social commerce space, enabling small businesses and individuals to sell products online through social media platforms. The IPO plan is part of Meesho’s strategy to strengthen its financial position and fuel future growth. CEO Vidit Aatrey has been appointed as both Managing Director and Chairman of the Board. His dual appointment is aimed at providing strong leadership during the IPO process and beyond. Meesho's valuation is expected to be in the range of $3.5 to $5 billion, depending on market conditions. The company has significantly reduced its losses over the past year and achieved profitability in FY 2024. Meesho is among the few Indian startups in the e-commerce space to reach profitability ahead of its IPO. The IPO is seen as a key indicator of investor appetite for consumer tech startups in India after a quiet IPO season. Follow me vishakha Jangir for more such insights.
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