Meesho finalizes India redomiciliation; PayU achieves break-even in FY25
Meesho, the Indian e-commerce platform, is eyeing nearly $1 billion (about ₹8,300 crore) in its upcoming IPO.
The company just moved its legal home from the US back to India—a big step before filing its draft papers and going public.
Meesho issued bonus shares worth ₹411.4 crore
To gear up for the IPO, Meesho issued bonus shares worth ₹411.4 crore at a 47:1 ratio, boosting its paid-up capital from ₹8.7 crore to ₹420.1 crore.
The reverse flip came with a hefty US tax bill of $280-300 million.
Morgan Stanley, Kotak Mahindra Capital, Citi, and JP Morgan are leading the IPO push, aiming for a valuation between $7-10 billion.
Meesho focuses on affordable shopping
Started in 2015 by Vidit Aatrey and Sanjeev Barnwal, Meesho focuses on affordable shopping for price-conscious buyers in smaller cities.
It stands out with a zero-commission model for sellers and runs its own logistics arm to keep delivery costs low.
Its main rivals are Amazon and Flipkart.
Meesho rebranded itself from Fashnear Technologies to boost name recognition
In May 2025, Meesho rebranded itself from Fashnear Technologies to Meesho Limited to boost name recognition ahead of the listing.
The company plans to hit Indian stock exchanges by late 2025—joining other startups making their way back home before going public.