Meesho files updated IPO papers to raise Rs 4,250 crore, early investors to exit

E-commerce platform Meesho has filed updated draft papers for an initial public offering, outlining plans to raise Rs 4,250 crore through fresh equity and a major secondary share sale by existing investors.

The offer includes the sale of up to 175.7 million shares by early backers such as Elevation Capital, Peak XV Partners, Venture Highway, and Y Combinator. Promoters Vidit Aatrey and Sanjeev Barnwal will also offload part of their holdings as part of the offer for sale (OFS).

This filing marks a significant step as Meesho transitions toward a public listing. The company has not disclosed a price band yet, which will ultimately determine the IPO's total valuation and size.

Aatrey and Barnwal join a growing list of Indian startup founders opting to be formally designated as promoters in their IPO filings, a shift in how new-age companies present leadership to public investors.

Despite rapid growth, Meesho has yet to turn a profit. It reported Rs 7,615 crore in revenue in FY24 with a net loss of Rs 305 crore. Losses swelled in FY25 to Rs 3,941 crore, largely due to expenses from shifting its legal base from Delaware to India. Excluding those one-time costs, the company posted a pre-tax loss of Rs 108 crore.

In the first quarter of FY26, the company reported a net loss of Rs 289 crore. Meesho has stated it will continue to prioritize growth over profitability in the near term.