IPO: Meesho gets shareholder nod to raise Rs 4,250 crore, CEO Vidit Aatrey named MD & Chairman
SoftBank-backed Meesho has secured shareholders' approval to raise up to Rs 4,250 crore via an initial public offering, according to the company's regulatory filing.
The resolution for the IPO was passed at the Extraordinary General Meeting held on June 25, the filing by the e-commerce firm stated, as reported PTI.
As per the filing dated June 27, the shareholders approved the proposal to raise up to Rs 4,250 crore through the issuance of fresh equity shares.
This development follows Meesho's completion of its domicile shift from the US to India.
The shareholders also approved the change in designation of Meesho Co-Founder and CEO Vidit Aatrey as the chairman and managing director of the company.
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