• Meesho's board has approved its conversion into a public entity, signaling its readiness for an IPO.
• The company has approved issuing Rs 411.4 crore worth of bonus shares to existing shareholders.

Meesho, the Bengaluru-based e-commerce platform, has taken formal steps toward a potential public listing by converting into a public limited company.

The board of the company has approved a resolution to rename its company from "Meesho Private Limited" to "Meesho Limited", as per its regulatory filing obtained from the Registrar of Companies (RoC). Meesho rebranded its legal name from "Fashnear Technologies Private Limited" to "Meesho Private Limited" in late April 2025.

The corporate overhaul is part of a wider rebalancing in India's startup ecosystem, where various VC-backed startups are considering domestic listings after years of pursuing growth within private markets.

While Meesho hasn't yet officially begun the IPO process, its filings show that the firm is gearing up for just that. “The company is currently exploring various strategic alternatives for its long-term growth and value enhancement, which may include, at an appropriate time, an initial public offering of its equity shares and listing on a recognised stock exchange in India,” it noted in its RoC filing. The company added that the restructuring is intended to maintain “readiness from a regulatory and compliance perspective.”

The transition comes as Meesho posts continued growth in a market increasingly dominated by large horizontal marketplaces such as Amazon and Flipkart. According to a March report from brokerage CLSA, Meesho captured a 37% share of total e-commerce orders in calendar year 2024, even though it accounted for only 8.5% of gross merchandise value (GMV).

CLSA estimated Meesho’s GMV run rate at $6.2 billion and projected the company could sustain a compound annual growth rate of 26% over the next six years. The platform recorded 1.3 billion orders in the April–December 2024 period alone, matching its order volume for all of FY24. As of the end of December, Meesho had 187 million unique annual transacting users a 26% increase year-over-year.

The company’s board has also cleared a plan to allot bonus shares worth Rs 411 crore to existing shareholders, which include some of the most prominent investors in Indian tech SoftBank, Prosus Ventures, and Tiger Global. Meesho has appointed Kotak Mahindra Capital, Citi, JP Morgan, and Morgan Stanley as merchant bankers for its planned IPO, which is reportedly targeting a $10 billion valuation.

Financially, Meesho reported a 33% year-on-year increase in revenue to Rs 7,615 crore for FY24. It also brought down its adjusted losses to Rs 53 crore for the year, a 97% reduction, signalling greater operational discipline in an environment where investors have begun to favour profitability over aggressive growth.

Established in 2015, Meesho first caught on as a reseller-driven platform that allowed small traders particularly women entrepreneurs to sell goods through WhatsApp and Facebook. The company eventually evolved into a horizontal full-stack marketplace with emphasis on Tier 2 and Tier 3 India. It currently directly supplies consumers through its app, skirting resellers and streamlining logistics to facilitate cheaper prices.

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