Meesho Files Papers Confidentially to Raise ₹4,250 Crore, TFS to Raise ₹2,000 Crore
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Meesho, a leading name in India's fast-growing e-commerce space, has filed confidential documents for an initial public offering (IPO), according to a report by Reuters. The company plans to raise approximately INR 4,250 crore (around USD 497.30 million) through the issue of fresh equity shares.
The IPO will also include a secondary component, with some existing investors expected to sell a portion of their stakes. While detailed terms of the secondary sale haven't been disclosed, Meesho has already secured shareholder approval, according to filings with the 'Registrar of Companies.'
Founded as a challenger to giants like Amazon and Flipkart, Meesho is backed by some of the world's most notable investors, including Prosus, Elevation Capital, WestBridge Capital, SoftBank, and Peak XV Partners.
Opting for a confidential filing enables Meesho to interact with market regulators and obtain feedback without prematurely disclosing financials or strategic details. This route is increasingly being used by Indian tech companies — Groww and Shadowfax have recently adopted the same strategy.
On the performance front, Meesho has shown notable financial progress. In FY 2024, its revenue climbed 33 per cent to INR 7,615 crore, while net losses reduced sharply to INR 305 crore, from INR 1,675 crore the previous year. The sharp drop in losses signals tighter cost controls and improved efficiency.
Travel Food Services Launches ₹2,000 Crore IPO
Travel Food Services (TFS), known for operating food counters and lounges across India's major airports, is set to launch its INR 2,000 crore initial public offering (IPO).
The IPO, entirely an offer for sale (OFS) by the Kapur Family Trust, involves no issuance of new shares. As such, the entire proceeds will go to the selling shareholder. However, employees will benefit from an INR 104 per share discount in their reserved allotment.
The public issue is priced between INR 1,045-1,100 per share (face value of INR 1) and will open for subscription on Monday, 7 July, closing on Wednesday, 9 July. Retail investors are required to bid for a minimum of 13 shares, and in multiples thereafter.
Ahead of the IPO opening, the stock is trading at a grey market premium (GMP) of INR 92, suggesting a potential listing price around INR 1,192, nearly 8 per cent higher than the upper end of the price band. However, actual performance will depend on prevailing market sentiment at the time of listing.
In terms of financial performance, TFS reported a 21 per cent year-on-year rise in revenue to INR 1,687.7 crore in FY 2025, while net profit increased by 27 per cent to INR 379.7 crore.
TFS operates in 14 Indian airports, including Delhi, Mumbai, and Bengaluru. The company also has a presence in Malaysia and Hong Kong, and operates QSR formats across nine highways in India.
Kotak Mahindra Capital, HSBC Securities, ICICI Securities, and Batlivala & Karani are acting as the lead managers (BRLMs) to the issue, while MUFG Intime is the designated registrar.
Market context: Broader Sentiment Remains Cautious
Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity, said that on the *derivatives front*, notable open interest spurts were seen in stocks like TECHM, TRENT, BOSCHLTD, ANGELONE, and BSE.
"After 5 straight sessions of losses, the market remained in a consolidation phase as investors stayed on the sidelines ahead of the July 9 deadline set by U.S. President Donald Trump for trade tariff negotiations," said the overview commentary.
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