E-commerce platform Meesho has officially converted into a public limited company, marking a key milestone in its journey toward launching an initial public offering later this year. This strategic move signals the Bengaluru-based firm’s intent to strengthen its legal and financial groundwork ahead of a highly anticipated public listing.
According to filings with the Ministry of Corporate Affairs, the company has changed its legal identity from Fashnear Technologies Private Limited to Meesho Limited, aligning its corporate name with its consumer-facing brand. This transformation into a public company is a standard and necessary requirement for any firm looking to list its shares on Indian stock exchanges. The restructuring comes amid reports that Meesho is aiming to raise around $1 billion through its IPO, potentially placing its valuation between $7–10 billion. The startup has already appointed global investment banks such as Kotak Mahindra Capital, Morgan Stanley, JP Morgan, and Citi to lead the offering process.
In preparation for the listing, Meesho has also issued bonus shares worth ₹411 crore, significantly increasing its paid-up capital. Sources suggest this move aims to ensure compliance with regulatory norms for public companies and improve equity distribution before the IPO filing. The company is expected to file its Draft Red Herring Prospectus in the coming months. The decision to go public comes at a time when investor interest in Indian tech startups is witnessing a revival. Meesho’s move also aligns with the broader trend of Indian startups “reverse-flipping” their domiciles from overseas back to India to benefit from local listing advantages and increased market visibility.
Meesho has demonstrated strong financial performance in recent quarters. For the financial year ending March 2024, the company reported revenue of ₹7,615 crore, with a sharp reduction in adjusted losses—down by 97% to ₹53 crore. The platform has also seen a rise in user engagement, serving over 187 million unique transacting users annually and achieving 34% year-on-year growth in order volumes.
Founded in 2015 by Vidit Aatrey and Sanjeev Barnwal, Meesho operates as a zero-commission marketplace, empowering millions of small sellers across India—especially in Tier II and Tier III cities—to reach customers directly. It has become a go-to platform for affordable fashion, home goods, and beauty products, among others. The company recently completed a ₹200 crore ESOP buyback, rewarding nearly 1,700 current and former employees, which is often seen as a prelude to a public listing and a show of confidence in future valuation growth.
Industry analysts view Meesho’s IPO as one of the most closely watched in India’s tech sector for 2025. The outcome of this offering could set the tone for several other startups looking to tap into public markets after a prolonged funding winter.
Meesho’s conversion into a public entity and its robust financial performance set the stage for a major IPO in the Indian startup ecosystem. As regulatory filings and investor roadshows begin, all eyes are now on how the public markets will respond to one of India’s fastest-growing e-commerce platforms.
