Latest news with #MeeshoPrivateLimited
News18
2 days ago
- Business
- News18
Meesho IPO: Shareholders Approve Rs 4,500 Crore Fundraise Via Public Issue
Last Updated: Meesho has officially changed its name from Fashnear Technologies Private Limited to Meesho Private Limited, ahead of IPO launch. Meesho IPO: The way for the launch of Meesho IPO has been cleared with the approval of its shareholders for a plan to raise Rs 4,500 crore ($500 million) through a fresh issue of equity shares. In the filing with Registrar of Companies, Meesho announced that the resolution was passed during an Extraordinary General Meeting on June 25, 2025. Additionally, the shareholders approved the designation of co-founder Vidit Aatrey as chairman, managing director, and CEO. It is part of Meesho's board rejig ahead of the launch of its IPO. Meesho is reportedly expected to file Draft Red Herring Prospectus (DRHP) in the coming months under the confidential route, as MoneyControl reported earlier. The company is planning to raise a total of around Rs 8,500 crore ($1 billion) through a mix of primary capital and an offer for sale (OFS). Earlier, Meesho shifted the headquarters to India as part of its public listing plan. Meesho mergered its Delaware-based entity Meesho INC. with its Indian arm. Meesho has officially changed its name from Fashnear Technologies Private Limited to Meesho Private Limited, as per a certificate of incorporation issued by the Ministry of Corporate Affairs on May 13. The name change, effective from May 13, 2025, aligns with Meesho's strategic focus on strengthening its brand identity as a leading e-commerce platform in India. It reflects Meesho's evolution into a comprehensive online marketplace. The company will now begin the process for its IPO, though the timeline for the listing has not been disclosed. While Prosus and SoftBank jointly hold around 22 percent of Meesho, this stake is relatively lower compared to the combined ownership of Elevation Capital and Peak XV Partners, the two largest investors in the e-commerce startup. Meesho's revenue surged from Rs 3,240 crore in FY22 to Rs 5,735 crore in FY23 and further to Rs 7,615 crore in FY24. At the same time, its net losses have dramatically reduced from Rs 3,248 crore in FY22 to just Rs 305 crore in FY24, highlighting its improved financial health. First Published:
Fashion Network
30-04-2025
- Business
- Fashion Network
Meesho plans parent company name change ahead of IPO
The board of e-commerce platform Meesho has approved renaming its Indian parent entity, Fashnear Technologies Private Limited, to Meesho Private Limited, ahead of its planned initial public offering. The proposed change was disclosed in regulatory filings submitted to the Registrar of Companies. "The proposed name change ensures that the corporate identity and brand identity are fully aligned, eliminating any inconsistency in public perception," announced the business in its filing at the Registrar of Companies, ET Tech reported. "This will enhance brand recall, stakeholder trust, and overall business positioning." The company has sought approval from the Ministry of Corporate Affairs and has also filed an application with the National Company Law Tribunal to redomicile the Bengaluru-based business under the new name. Once the redomiciling process is complete, Meesho Private Limited will become the parent company of the marketplace, Apparel Resources India reported. Several Indian start-ups have undertaken similar changes prior to going public. Swiggy rebranded from Bundl Technologies, Urban Company from UrbanClap Technologies, and Shiprocket from Bigfoot Retail. Most recently, fast commerce player Zepto changed its parent entity's name from Kiranakart Technologies to Zepto Private Limited.
