Meesho’s $606M IPO pops as enthusiasm for India’s e-commerce startups rises

Company Overview - Meesho, an Indian e-commerce marketplace, successfully debuted as a public company with shares rising by 46% from its issue price, reaching a market capitalization of ₹780 billion (approximately $8.69 billion) after an IPO that raised $606 million [1][2] Financial Performance - In the six months ending September 30, Meesho reported revenue of ₹55.78 billion (around $620.3 million), a 29% increase from ₹43.11 billion (approximately $479.6 million) a year earlier [4] - The company's net merchandise value increased by 44% to ₹191.94 billion (about $2.14 billion) during the same period, although losses widened to ₹4.33 billion (roughly $48.2 million) compared to ₹0.24 billion (around $2.7 million) a year prior [4] Market Position - Founded in 2015, Meesho operates a low-cost marketplace model that connects small merchants with price-sensitive consumers, successfully competing against established players like Flipkart and Amazon [3][5] - The company has reported 234.2 million transacting users and 706,471 annual sellers, along with over 50,000 active content creators in the past year [3] Industry Context - Meesho's listing is part of a broader trend of startup IPOs in India, with other companies like Pine Labs, Groww, and Lenskart also going public recently, and more listings expected next year from companies like Flipkart, Oyo, and PhonePe [6]