Meesho Gets Board Nod To Raise INR 4,250 Cr Via IPO

Ecommerce giant Meesho’s board has approved raising up to INR 4,250 Cr (around $500 Mn) via a fresh issue in its initial public offering (IPO).

As per the company’s regulator filings, the IPO will also consist of an offer for sale (OFS), allowing existing investors to offload shares.

“The proposed offering will include a fresh issue of equity shares aggregating up to INR 4,250 Cr and an offer for sale of equity shares by certain existing shareholders of the company,” the filing added.

Besides, the board also approved the redesignation of Meesho’s founder Vidit Aatrey as the chairman,managing director and chief executive officer of the company.

Earlier this week, Meesho shifted its domicile back to India after receiving approval from the National Company Law Tribunal (NCLT).

(The story will be updated soon.)

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