Meesho To Rename Indian Parent Entity’s Name From Fashnear Technologies Ahead Of IPO

IPO-bound Ecommerce company meesho is changing the name of its Indian entity from Fashnear Technologies Pvt Ltd to Meesho Pvt Ltd, according to regulatory filings.

The company has asked the Ministry of Corporate Affairs for approval and has also applied to the National Company Law Tribunal (NCLT) as part of its move to re-domicile.

Once completed, Meesho Pvt Ltd will officially become the parent company of the marketplace.

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 The board said that since Meesho has built strong brand recognition and trust in digital commerce, it makes sense to align the company's legal name with its popular brand.

This update comes as Meesho prepares for a $1 billion IPO. Media reports suggest the company has picked Morgan Stanley, Kotak Mahindra Capital, and Citi as IPO advisers and may also add JP Morgan.

 Meesho's IPO valuation is reportedly around $10 billion, with plans to file draft papers in the coming months and aim for a listing around Diwali this year.

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In 2024, Meesho also launched its biggest ESOP buyback program worth Rs 200 crore ($25 million), benefiting about 1,700 current and former employees.

Earlier this month, Meesho’s co-founders exercised 27 lakh stock options worth $120 million.

For the year ending March 2024, Meesho’s revenue grew by 33% to Rs 7,615 crore, while it cut its adjusted losses by 97% to Rs 53 crore. In the first nine months of FY25, Meesho handled 1.3 billion orders.

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