Meesho Rebrands as It Prepares for IPO
The e-commerce company Meesho has changed its registered name from Fashnear Technologies to Meesho Pvt Ltd ahead of its planned initial public offering (IPO). This strategic move aims to strengthen the company's brand identity. The firm achieved profitability in FY24, with revenue surging to Rs 7,615 crore.
- Country:
- India
Softbank-backed e-commerce firm Meesho has officially changed its registered name from Fashnear Technologies to Meesho Pvt Ltd, in preparation for its forthcoming initial public offering (IPO), sources revealed on Thursday. The change took effect on May 13.
According to a Certificate of Incorporation issued by the Ministry of Corporate Affairs, the company, originally incorporated as Fashnear Technologies Private Limited, has adopted the new name Meesho Private Limited. This move is considered crucial to ensure market clarity as the company advances towards its IPO.
Meesho's rebranding underscores its strategic commitment to solidify its identity as a prominent e-commerce platform in India. The firm has reported profitability in FY24, a milestone as the first Indian horizontal e-commerce company to do so. Revenue increased 33% to Rs 7,615 crore, marking significant growth from the previous fiscal year.
(With inputs from agencies.)
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