Meesho files confidential papers for IPO to raise Rs 4,250 crore: Report
Meesho is a popular name in India's growing e-commerce market and competes with big players like Amazon and Flipkart. It is backed by well-known global investors, including Prosus, Elevation Capital, WestBridge Capital, SoftBank, and Peak XV Partners.The confidential filing allows Meesho to get feedback from market regulators without making its financial details and business strategies public too soon. Many companies use this method to protect sensitive information before they hit the stock market. Recently, Groww and Shadowfax also filed confidential papers for their own IPOs.Meesho's business has been growing fast. In the financial year 2024, its revenue rose by 33% to Rs 7,615 crore. The good news for investors is that the company's losses have dropped sharply too, from Rs 1,675 crore the year before to just Rs 305 crore now, showing that it is controlling costs better.advertisementAfter a slow start to the year because of global tensions, India's IPO market is back in action. By the end of June, Indian IPOs had raised about $5.86 billion, which makes up around 12% of total IPO funds collected around the world so far this year, according to LSEG data.There's more excitement ahead as well. Reports say up to 143 IPOs worth a possible $26 billion are in the pipeline, according to data from PRIME Database.With this move, Meesho could become one of the most-watched companies to go public this year, giving investors another major home-grown tech brand to bet on.- EndsMust Watch
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