Meesho Limited is a multi-sided technology platform transforming India’s e-commerce landscape by seamlessly connecting four major ecosystem participants — consumers, sellers, logistics partners, and content creators. Its marketplace, operated under the Meesho brand, focuses on affordability, accessibility, and a discovery-led shopping experience suited for India’s value-driven consumers.
Meesho operates through two key segments:
- Marketplace: Meesho’s core platform enables seamless buyer–seller transactions, low-cost fulfilment, advertising, and data-driven seller tools. Revenue comes from logistics services, mall fees, ads, seller programs, and fintech interest-sharing.
- New Initiatives: Includes a low-cost local logistics network for essentials and digital financial services to boost engagement and expand Meesho’s overall digital ecosystem.
As of the twelve months ended September 30, 2025, Meesho recorded 234.20 million Annual Transacting Users and 706,471 Annual Transacting Sellers, supported by a rapidly expanding product assortment and growing order volume across key categories.
Meesho’s delivery network, Valmo, works with many partners—delivery agents, transporters, sorting centres, and trucking services. Together, they help deliver orders quickly and at low cost, especially for small and regional sellers.
As of September 30, 2025, Meesho employed 2,082 full-time employees, spanning technology, operations, logistics, customer experience, and business teams.
Meesho IPO – Details
| IPO Opening Date | 03 December 2025 |
| IPO Closing Date | 05 December 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 48,83,96,722 Shares Worth ₹5421.20 Crore Fresh Issue: 38,28,82,883 Shares Worth ₹4250.00 Crore Offer For Sale: 10,55,13,839 Shares Worth ₹1171.20 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹105 – ₹111 per share |
| Market Lot | 135 Shares |
| Min Order | 135 Shares [ 1 Lot ] |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Ltd. |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Meesho IPO – Date Schedule
| IPO Open Date | 03 December 2025 |
| IPO Close Date | 05 December 2025 |
| Basis of Allotment | 08 December 2025 |
| Initiation of Refund | 09 December 2025 |
| Credit of Shares to Demat Account | 09 December 2025 |
| IPO Listing Date | 10 December 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 05, 2025 |
Meesho IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 135 | ₹14,985 |
| Retail (Max) | 13 | 1,755 | ₹1,94,805 |
| S-HNI (Min) | 14 | 1,890 | ₹2,09,790 |
| S-HNI (Max) | 66 | 8,910 | ₹9,89,010 |
| B-HNI (Min) | 67 | 9,045 | ₹10,03,995 |
Competitive Strength
- A platform built on powerful self-reinforcing flywheels.
- A technology-first mindset with strong AI-driven capabilities.
- Ability to deliver everyday low prices.
- Strong trust signals across stakeholders.
Company Promoters
- Vidit Aatrey
- Sanjeev Kumar
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹5,897.69 Cr | ₹7,569.59 Cr | -₹1,671.90 Cr | – |
| 31 March 2024 | ₹7,859.24 Cr | ₹8,173.78 Cr | -₹327.64 Cr | – |
| 31 March 2025 | ₹9,900.90 Cr | ₹10,009.33 Cr | -₹3,941.71 Cr | – |
| 30 September 2025 | ₹5,857.69 Cr | ₹6,290.91 Cr | -₹700.72 Cr | – |
Key Performance Indicator
| KPI | Values |
|---|---|
| Debt/Equity | – |
| RoNW | -252.37% |
| PAT Margin | – |
| EBITDA Margin | – |
| Price to Book Value | – |
| Market Capitalization | – |
| Pre IPO | Post IPO | |
| EPS (₹) | -9.98 | – |
| P/E (x) | – | – |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Investment for cloud infrastructure in Meesho Technologies Private Limited (MTPL), the subsidiary. | ₹1,390.00 |
| Payment of salaries for existing and replacement hires in the Machine Learning, AI, and technology teams for AI and technology development undertaken by MTPL, the subsidiary. | ₹480.00 |
| Investment in MTPL, the subsidiary, for expenditure towards marketing and brand initiatives. | ₹1020.00 |
| Funding inorganic growth through acquisitions and other strategic initiatives and general corporate purposes. |
Meesho IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 1 | Eternal Limited | 529.14 |
| 2 | 1 | Swiggy Limited | N.A. |
| 3 | 2 | Brainbees Solutions Limited | N.A. |
| 4 | 1 | FSN E-Commerce Ventures Limited | 1,168.43 |
| 5 | 10 | Vishal Mega Mart Limited | 99.53 |
| 6 | 1 | Trent Limited | 100.87 |
| 7 | 10 | Avenue Supermarts Limited | 98.43 |
✅Strengths
- Large multi-sided platform connecting consumers, sellers, logistics partners, and creators.
- Strong data flywheels improving pricing, discovery, and logistics efficiency.
- Technology-first, AI-driven operations with a large tech and ML team.
- Everyday Low Prices enabled by zero-commission and low fulfilment costs.
- High trust signals with 1.29B ratings, 399M reviews, 86M images/videos.
- Wide assortment across unbranded, regional, and national products.
⚠️Risks
- Dependence on logistics partners; disruptions may delay deliveries.
- High CoD share increases failed deliveries and cash-handling risks.
- Limited end-to-end courier partners; contract issues can affect fulfilment.
- Intense competition in value-focused e-commerce.
- Technology/system failures may impact operations or user experience.
- Scaling challenges as order volumes and user base grow.
Meesho IPO Promoter Holding
| Pre Issue Share Holding | 19.08% |
| Post Issue Share Holding | 16.76% |
Meesho IPO Prospectus
Company Contact Information
| Meesho Ltd. 3rd Floor, Tower E, Helios Business Park, Chandana, Kadabeesanahalli Bengaluru, Karnataka, 560103 Email: investorrelations@meesho.com Website: https://www.meesho.com/ |
Meesho IPO Registrar
| Kfin Technologies Ltd. Phone: 04067162222, 04079611000 Email: meesho.ipo@kfintech.com Website: https://ipostatus.kfintech.com/ |
Meesho IPO Lead Manager(s)
| 1. Axis Capital Limited 2. J.P. Morgan India Private Limited 3. Kotak Mahindra Capital Company Limited 4. Citigroup Global Markets India Private Limited 5. Morgan Stanley India Company Private Limited |
Meesho IPO FAQs
| What is the Meesho IPO? Meesho IPO is a main-board IPO. The issue is priced at ₹105 to ₹111 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will Meesho IPO open? The IPO is to open on 03 December 2025 for QIB, NII, and Retail Investors. |
| What is Meesho IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| What is Meesho IPO Size? Meesho IPO size is ₹5,421.20 Crore. |
| What is the Meesho IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 135 Shares with ₹14,985, while the maximum bid is 1,755 Shares with ₹1,94,805. |
| What is the Meesho IPO Allotment Date? Meesho IPO allotment date is 08 December 2025. |
| What is the Meesho IPO Listing Date? Meesho IPO listing date is 10 December 2025. The IPO is to be listed on the BSE and NSE. |
