Ecommerce platform Meesho is reportedly planning to raise US$1 billion through an initial public offering (IPO), according to sources cited by Moneycontrol. The Bengaluru-based company has engaged Morgan Stanley, Kotak Mahindra Capital, and Citi as advisors for the IPO.

Sources indicate that Meesho’s bankers have proposed a valuation of US$10 billion for the company. Discussions are ongoing, and JP Morgan may join the IPO syndicate if negotiations progress. Meesho is expected to file its draft documents in the coming weeks.

This development follows a recent funding round that raised between US$250 million and US$270 million from investors including Tiger Global, Think Investments, and Mars Growth Capital.

The deal reportedly valued the company at approximately US$3.9 billion to US$4 billion, a 20% decrease from its earlier valuation of US$4.9 billion.

Founded in 2015 by Vidit Aatrey and Sanjeev Barnwal, Meesho hosts over 1.5 million sellers on its platform. It has more than 140 million annual transacting users across India.

Recent Meesho developments