Meesho IPO

About Meesho IPO

The IPO of Meesho comprises a fresh issue and an offer for sale. The fresh issue aggregates up to ₹4250 crores with an offer for sale of up to 105,513,839 equity shares. The total issue size is pegged at ₹5421.20 crores. It’s a 100% book-built issue. The price band is ₹105 to ₹111 per share. The lot size of shares in the IPO is 135 and the minimum investment amount required by a retail investor is ₹14,985 based on the upper price.

Meesho IPO opens on December 3, 2025 and closes on December 5, 2025. The allotment of shares will take place on December 8, 2025. The credit of shares to the Demat account will take place on December 9, 2025. The initiation of refunds will take place on December 9, 2025. The listing of shares will take place on December 10, 2025.

Meesho is a multi-sided technology platform driving e-commerce in India by bringing together four key stakeholders – consumers, sellers, logistics partners and content creators. Its e-commerce marketplace, that operates under the brand name Meesho, has emerged as India’s largest in terms of number of placed orders and annual transacting users among e-commerce players in India in the last twelve months period ended June 30, 2025, according to the Redseer Report.

Objectives of Meesho IPO

The company proposes to utilise the IPO proceeds for:

• Investment for cloud infrastructure in Meesho Technologies its subsidiary
  
• Payment of salaries of its existing and replacement hires for the machine learning and AI and technology teams for AI and technology development undertaken by Meesho Technologies, its subsidiary
  
• Investment in Meesho Technologies, its subsidiary, for expenditure towards marketing and brand initiatives
  
• Funding inorganic growth through acquisitions and other strategic initiatives and general corporate purposes
  

Industry Outlook

E-commerce adoption in India has followed a clear category evolution, similar to the patterns observed in China during the late 2010s. In both India and China, the e-commerce journey began with electronics, as it is marked by high ticket size and low purchase frequency, and faces relatively less supply fragmentation, allowing for faster online adoption. Subsequently, penetration expanded into discretionary and lifestyle categories such as fashion and BPC.

This shift now unfolding in India has been accelerated by content-led discovery, influencer-driven commerce, and increasing adoption of digital payments. In contrast, essential categories such as grocery continue to see limited online adoption due to low average order values, fulfilment complexities, and entrenched offline habits, and are projected to witness increased e-commerce play in the future

India e-commerce market is currently sized at ~₹6 trillion (~US$70 billion) in terms of gross merchandise value (GMV) and is projected to reach ₹15–18 trillion (US$174–214 billion), penetrating 12–13% of India retail market by fiscal 2030.

Meesho Company Information

Meesho is a multi-sided technology platform driving e-commerce in India by bringing together four key stakeholders – consumers, sellers, logistics partners and content creators. Its e-commerce marketplace, that operates under the brand name Meesho, has emerged as India’s largest in terms of number of placed orders and annual transacting users among e-commerce players in India in the last twelve months period ended June 30, 2025, according to the Redseer Report.

Its value focused platform is designed to serve all segments of consumers across India by making ecommerce affordable, accessible and engaging. It’s focused on providing ‘everyday low prices’ to consumers. Its technology-first operations, platform scale and efficiency offer low-cost order fulfilment to sellers on Meesho.

Strengths of Meesho IPO

• Platform is built on multiple scaled self-reinforcing flywheels
• Technology-first approach with focus on AI driven solutions
• Purposefully built to tackle challenges in India
• Use of AI/ML led solutions
• Technology built for scale and efficiency
• Ability to continuously innovate
• Delivering ‘everyday low prices’ for consumers
• Trusted layer among stakeholders
• Ability to scale in a capital-efficient manner
• Organisation built on culture of agility and innovation, with experienced management team

Risks of Meesho IPO

• Inability to generate adequate revenue and manage cash flows may result in continuous incurring of losses
• Failure to attract and retain consumers on platform may impact business, financial condition, cash flows and results of operations
• Failure to attract and retain sellers on platform may impact business, financial condition, cash flows and results of operations
• Service interruptions, failures, constraints or inadequate service quality of these logistics’ partners could harm business, financial condition and prospects
• Disruption to technology infrastructure or system availability could impair ability to ensure consistent platform performance
• CoD reduces the rate of successful deliveries and increases operational inefficiencies and risks related to cash handling
• Failure to compete effectively may result in losing market share and business
• Negative publicity or harm to brand or reputation could materially and adversely affect business
• Failure to provide adequate support services to stakeholders could adversely impact operations
• Inability to use software licensed from third parties may adversely affect business

Anchor Investor Bidding Date

Anchor portion of the IPO opens for bidding on December 2, 2025.

IPO Registrar and Book Running Lead Managers

• IPO Registrar: KFin Technologies
• Book Running Lead Managers: Kotak Mahindra Capital Company, J.P.Morgan India, Morgan Stanley India Company, Axis Capital and Citigroup Global Markets India

Meesho’s Business Model

Meesho’s value focused platform is designed to serve all segments of consumers across India by making ecommerce affordable, accessible and engaging. It’s focused on providing ‘everyday low prices’ to consumers. Its technology-first operations, platform scale and efficiency offer low-cost order fulfilment to sellers on Meesho.

This, along with a zero-commission model for sellers enables it to reduce the average cost charged to sellers and provide a wide assortment of products ranging from low-cost unbranded products, regional brands and national brands at affordable prices on Meesho.

Its artificial intelligence/machine learning (AI/ML) led algorithms are designed to deliver a personalised, discovery led shopping experience to consumers similar to an offline window-shopping experience, making online shopping easy and engaging for consumers.

Meesho’s Growth Trajectory

Annual transacting users of Meesho grew from 13.640 crores in FY 23 to 19.877 crores in FY 25, while its revenue from operations grew from ₹5734.519 crores in FY 23 to ₹9389.903 crores in FY 25.

According to the Redseer Report, while the number of e-commerce shoppers in India grew by 11-20% from fiscals 2023 to 2025, Meesho’s annual transacting users has increased by ~46% in the same period, implying that a significant portion of shopper-commerce growth in the last 2 years has been led by Meesho. Technology first approach coupled with ability to innovate continuously has helped the company grow over the years.

Meesho’s Market Position

Meesho, emerged as India’s largest in terms of number of placed orders and annual transacting users among e-commerce players in India in the last twelve months period ended June 30, 2025. 1.83 billion orders were placed on Meesho in FY 25, with 198.77 million annual transacting users.

How to Check Allotment Status of Meesho IPO?

1. Visit the Registrar’s Website

• Visit the official website of KFin Technologies
  
• Click on ‘IPO Allotment Status’ from ‘Investors’ under ‘Products’
• Click on any one of the appearing links
  
• Choose IPO name and enter either your application number, Demat account or PAN number
  
• Enter captcha and click on ‘Submit’ to know the status
  

2. Check on the National Stock Exchange Website

The National Stock Exchange (NSE) website has an IPO bid verification module. You can use it to check the allotment status of Meesho IPO. Go to the NSE website and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.

On the NSE IPO bid verification page, enter:

• Company name from the dropdown
  
• Application number
  
• PAN
  

Then click 'Submit' to know the allotment status.

3. Check on the BSE Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to the BSE website and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:

• Select 'Equity' from the dropdown menu
  
• Choose 'Meesho' in the next dropdown
  
• Enter your application number
  
• Enter your PAN
  
• Click 'Search’ to know allotment status
  

How to Apply for the Meesho IPO?

To apply for this IPO:

• Log in to your Kotak Neo Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section.
  
• Specify IPO details: Enter the number of lots and the price you wish to apply for.
  
• Enter UPI ID: After entering your UPI ID, click submit. This will place your bid with the exchange.
  
• Mandate Notification: Your UPI app will receive a mandate notification to block funds.
  
• Approve Request: Your funds will be blocked once you approve the mandate request on your UPI.