Citi rates Meesho buy with ₹210 target citing marketplace-led approach
Citi just gave Meesho a Buy rating, setting a price target of ₹210 per share, which means they see about 23% growth from its current price of ₹171.21 as of Monday's close.
What caught Citi's eye? Meesho's marketplace-led approach, which keeps seller costs low and makes shopping more affordable for everyone.
Meesho surpasses 264 million transacting users
Meesho is on the rise, with over 264 million users transacting annually, a jump of 33% in just a year.
Its seller community is booming too, up 87% to more than 950,000 sellers.
Citi called it an "infinite and accessible store," thanks to its tech-driven platform that connects buyers and sellers all over India.
Meesho valued 50x FY29 EV/adjusted EBITDA
Citi values Meesho at 50 times its estimated fiscal 2029 enterprise value to adjusted EBITDA, showing big confidence in its future.
Most shares are held by foreign investors (68%), including SoftBank Vision Fund and Elevation Capital; promoters own about 17%, while retail investors make up a small slice with around 185,000 shareholders.