Meesho Sets Stage for Blockbuster IPO with Rs 4,250 Crore Plan
Meesho, supported by SoftBank, has received approval from its shareholders to raise up to Rs 4,250 crore via an IPO. This move follows Meesho's recent domicile shift to India. Additionally, Co-Founder and CEO Vidit Aatrey has been designated as chairman and managing director.
- Country:
- India
Meesho, an e-commerce platform with backing from SoftBank, has secured shareholder approval to raise up to Rs 4,250 crore through an initial public offering (IPO). This strategic decision was confirmed during their Extraordinary General Meeting on June 25, detailed in a regulatory filing dated June 27.
In a significant development, the company has completed its domicile shift from the US to India. This move positions Meesho strategically for its impending IPO, highlighting its commitment to the Indian market.
Additionally, in line with its growth trajectory, the shareholders have voted to elevate Co-Founder and CEO Vidit Aatrey to the roles of chairman and managing director, signaling strong leadership as the company embarks on this new phase.
(With inputs from agencies.)
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