Meesho gets shareholders nod for Rs 4250 Crore via IPO

E-commerce giant meesho’s board has greenlit a plan to raise up to INR 4,250 Cr (approximately $500 million) through a fresh issue in its upcoming initial public offering (IPO).

According to the company’s regulatory filings, the IPO will also include an offer for sale (OFS), enabling existing investors to offload their shares.

“The offering will comprise a fresh issue of equity shares totaling up to INR 4,250 Cr, alongside an offer for sale of equity shares by certain current shareholders,” the filing stated.

In addition, the board has approved the elevation of Meesho’s founder, Vidit Aatrey, to the roles of Chairman, Managing Director, and CEO.

Earlier this week, Meesho completed the process of re-domiciling to India, following approval from the National Company Law Tribunal (NCLT).