Meesho fans, rejoice! The wait for its IPO might finally be coming to an end. According to reports, the e-commerce startup is just one step away from filing its draft IPO paperwork. Here’s the lowdown.
Meesho is currently wrapping up its move from Delaware, USA, back to India. This shift is crucial because once completed, the company will file its Draft Red Herring Prospectus (DRHP) with SEBI. Expect the DRHP to drop within weeks.
Now, let’s talk numbers. Industry whispers suggest Meesho could raise up to USD 1 billion in its IPO. That’s big. Even bigger? Its valuation might hit USD 10 billion, a massive jump from its previous USD 4 billion tag.
The company has already picked its bankers and taken steps to become a public entity, showing how serious it is about this move.
Founded in 2015 by IIT Delhi grads Vidit Aatrey and Sanjeev Barnwal, Meesho has bagged over USD 1.3 billion from big names like Tiger Global and SoftBank.
If all goes well, Meesho could beat rival Flipkart to the public market. Flipkart, which started way back in 2007, is still waiting for its parent company Walmart to finalize its IPO plans.
Exciting times ahead for India’s e-commerce space!