Meesho, an Indian ecommerce platform backed by SoftBank, is targeting a valuation of around 530 billion rupees (US$6 billion) for its planned December IPO.

The company is in talks with SBI Funds Management for a pre-IPO placement that could change the offering size.

Its IPO is expected to include a new share issue worth 42.5 billion rupees (US$474 million) and the sale of 175.7 million shares by existing investors, with the total size estimated at about 60 billion rupees.

Meesho reported 10.3 billion rupees (US$114.9 million) in free cash flow for the year ended March 2025, which it said was the highest among listed Indian ecommerce firms.

Advisers on the deal include Kotak Mahindra Capital, Axis Bank, JP Morgan Chase, Morgan Stanley, and Citigroup.

🔗 Source: Bloomberg

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