Softbank backed e-commerce firm Meesho has received Securities and Exchange Board of India’s (SEBI) go-ahead to raise funds through initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 4,250 crore and an offer for sale (OFS) of 17.57 crore equity shares by certain existing shareholders.
The company plans to utilise the net proceeds towards investment for cloud infrastructure in Meesho Technologies, payment of salaries of existing and replacement hires for the machine learning and AI and technology teams for AI and technology development undertaken by Meesho, expenditure towards marketing and brand initiatives and funding inorganic growth through acquisitions and other strategic initiatives and general corporate purposes.
Meesho is a multi-sided technology platform driving e-commerce in India by connecting consumers, sellers, logistics partners, and content creators. Through a low-cost, discovery-led model, it enables affordable and accessible shopping for diverse consumer segments across the country.
| Company Name | CMP |
|---|---|
| Eternal | 251.65 |
| Meesho | 196.35 |
| Swiggy | 275.75 |
| FSN E-Commerce | 271.20 |
| Brainbees Solutions | 237.65 |
| View more.. | |
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