India’s homegrown e-commerce giant Meesho has taken a major step towards going public — and it’s doing it quietly.
The company has confidentially filed its Draft Red Herring Prospectus (DRHP) with SEBI, planning to raise a massive ₹4,250 crore (~$500 million) through a primary share sale, according to sources.
This move follows Meesho’s bold reverse flip back to India, positioning itself as a fully Indian company ahead of its IPO dreams. Just last month, Meesho transitioned from a US-registered entity to an Indian one — a move that reportedly cost $288 million but set the stage for a blockbuster public debut.
Earlier buzz hinted at a $1 billion IPO including both new shares and investor exits, but for now, only the primary fundraise of $500 million is confirmed. The secondary (OFS) component remains unclear, though early investors might still grab the chance to cash in.
The IPO is backed by a powerhouse team of bankers including Citi, Kotak Mahindra, Morgan Stanley, and Axis Capital.
Post flip, Elevation Capital has emerged as Meesho’s top external stakeholder with a 14.49% stake, followed by Peak XV, SoftBank, and Prosus.
In FY24, Meesho clocked ₹7,615 crore in revenue — a 33% growth from last year — while slashing losses by a massive 97% to ₹53 crore.
This makes Meesho the seventh startup in 2025 to choose the confidential DRHP route, joining names like Groww, PhysicsWallah, and boAt.
With this move, Meesho is not just selling shares — it’s selling confidence, scale, and a made-in-India success story ready for the stock market spotlight.
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