Meesho eyes $6 billion valuation with December IPO

Core Viewpoint - Meesho, an online marketplace in India, is preparing for an initial public offering (IPO) aiming for a valuation of approximately 530 billion rupees ($6 billion) and plans to raise around 60 billion rupees through the offering [5]. Group 1: IPO Details - The IPO will consist of a fresh issue of shares valued at 42.5 billion rupees and an offer for sale of 175.7 million shares from existing investors [5]. - The company is in discussions with SBI Funds Management for a pre-IPO placement, which may influence the size of the IPO [5]. - The IPO is expected to launch in the first half of December [5]. Group 2: Market Context - Meesho is part of a growing trend in India's IPO market, which has seen companies raise nearly $19.5 billion this year, following a record $21 billion in 2024 [2][5]. - The ongoing deliberations regarding the IPO may lead to changes in timing and deal size [2]. Group 3: Financial Performance - Meesho reported a free cash flow of 10.32 billion rupees for the year ending March 2025, the highest among listed e-commerce firms in India [4]. Group 4: Advisory Team - The IPO is being advised by Kotak Mahindra Capital Co., Axis Bank Ltd., and local units of JPMorgan Chase & Co., Morgan Stanley, and Citigroup Inc. [5].