Meesho Files RHP, Issue To Open On December 3

Ecommerce major Meesho has filed its red herring prospectus (RHP) with markets regulator SEBI for its upcoming initial public offering (IPO). 

As per its RHP, the Bengaluru-based ecommerce company plans to raise up to INR 4,250 Cr via a fresh issue of shares. Alongside this, existing investors will sell up to 10.55 Cr shares via the offer for sale (OFS) component.

The OFS will see participation from both founders, Vidit Aatrey and Sanjeev Kumar, who are looking to each sell up to 1.6 Cr shares each. In addition, early backers such as Elevation Capital, Peak XV Partners, Venture Highway, Y Combinator Continuity, and others will also offload their stakes.

According to its RHP, the issue will open for public subscription on December 3 and close on December 5, with the anchor investors bidding for its shares on December 2. 

Notably, in the first six months (H1) of fiscal year 2025-26 (FY26), the ecommerce major clocked an operating revenue of INR 5,577.5 Cr, up 29.4% from INR 4,311.2 Cr in the year ago period. Meanwhile, its net loss declined 72% to INR 700.7 Cr in the period under review as against INR 2,512.8 Cr in H1 FY25. 

In its RHP, the company also disclosed that its current tax liabilities include demand notices to the tune of INR 572 Cr from the Income Tax Department for the assessment year 2022-23. The company says that it has challenged the direct tax demand before the High Court of Karnataka, which has granted an interim stay on the proceedings, and the matter is currently pending.

With this, Meesho joins a growing list of late-stage startups making their public markets debut this year. Including Capillary Technologies and PhysicsWallah that completed their listings just last week, 15 startups have already gone public this year. 

Alongside, startups like Shadowfax, boAt and Curefoods are also expected to file their respective RHPs soon. Meanwhile, earlier today, Aequs too, filed its RHP to raise INR 670 Cr via its IPO.

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