Indian e-commerce company Meesho (MEES.NS) is preparing to seek a valuation of up to INR 501 billion ($5.6 billion) when it launches its initial public offering next week, as it aims to strengthen its position in a market largely dominated by Amazon and Walmart-owned Flipkart.
The upcoming listing arrives during a period of heightened activity for India’s equity markets, with several technology-led companies, including Groww (BILO.NS), Lenskart (LENS.NS) and PhysicsWallah (PHYS.NS), already making public debuts. Analysts expect the domestic IPO market to surpass last year’s record total of $20.5 billion, with as much as $8 billion in new offerings projected for the final quarter of 2025.
Meesho, known for its strong customer base in India’s smaller cities and its appeal to value-seeking shoppers, is also seen as benefiting from recent government reductions in consumption and income taxes designed to boost domestic demand.
Backed by SoftBank (9984.T), the company has set a price range of 105–111 rupees per share ($1.18–$1.24) for the three-day offering beginning on 3 December, according to a filing released late on Thursday. Anchor investors will be able to submit bids a day earlier, on 2 December. Meesho shares are expected to begin trading on India’s main stock exchanges on 10 December, its prospectus shows.
At the upper end of the price band, the IPO is expected to raise around 54 billion rupees ($604 million), based on Reuters calculations.
Existing shareholders in the Bengaluru-headquartered business, including Elevation Capital and Peak XV Partners, are set to sell 105.5 million shares, fewer than the originally planned 175.7 million. SoftBank will not be selling any shares as part of the IPO.
Meesho is also issuing new shares worth 42.5 billion rupees, with proceeds intended for investment in cloud infrastructure, strengthening its technology division, and covering additional corporate expenses.
