Business Profile of Meesho Limited
Meesho Limited was incorporated in 2015 and is a multi-sided technology platform driving e-commerce in India by connecting consumers, sellers, logistics partners, and content creators. The company its e-commerce marketplace under the brand name Meesho, providing consumers to access a wide range of affordable products while offering sellers a low-cost platform to grow their businesses. The company operates in two business segments, first is providing a market place which facilitating transactions between consumers, sellers, logistics partners, and content creators. Second is low-cost local logistics network for daily essentials and a digital financial services platform.
Objective of Meesho Limited IPO
As per the draft red hearing prospects, the IPO issue consists fresh issue and offer for sale. The fresh issue consists of XXXX shares at the face value of ₨1.00 each aggregating up to ₹ 42,500.00 million and OFS consists XXXX shares at face value of ₨ 1.00 each aggregating up to ₨ XXXX million. There are fresh shares issues and OFS by company and main objective of company is investment for cloud infrastructure & subsidiaries company, salaries of AI & machine learning teams, and inorganic growth.
Details of Meesho Limited IPO
| IPO Open Date | N.A. |
| IPO Close Date | N.A. |
| Basis of Allotment | N.A. |
| Listing Date | N.A. |
| Face Value | ₹1.00 per share |
| Price | N.A. |
| Lot Size | N.A. |
| Total Issue Size | Up to XXXX shares |
| Aggregating up to ₨ XXXX million. | |
| Fresh Issue | Up to XXXX Equity Shares |
| Aggregating up to ₨ 42,500.00 million. | |
| Offer For Sale | Up to XXXX Equity Shares |
| Aggregating up to ₨ XXXX million. | |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE & NSE |
| QIB Shares Offered | Not more than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Meesho Limited IPO: Issue Price & Size
The issue price of MEESHO LIMITED hasn’t been released yet. Upon releasing the dates, the investors can bid between those price ranges. The company has fresh issue and OFS aggregating up to ₹ XXXX million at the price of ₨XXXX.
Launch Date of Meesho Limited IPO
The IPO opening date of MEESHO LIMITED hasn’t been officially announced yet, upon the declaration of dates investor can bid for IPO.
Financial Statements of Meesho Limited
| Particular | Ended March 31 , 2025 |
Ended March 31 , 2024 |
Ended March 31 , 2023 |
| Income | |||
| Revenue from operations | 93,899.03 | 78,151.48 | 57,345.19 |
| Other income | 5,109.98 | 2,440.94 | 1,631.72 |
| Total income | 99,009.01 | 78,592.42 | 58,976.91 |
| Expenses | |||
| Employee benefits expense | 8,481.81 | 7,577.03 | 7,282.50 |
| Finance costs | 68.95 | 63.72 | 13.39 |
| Depreciation and amortisation expense | 340.27 | 581.10 | 300.36 |
| Other expenses | 91.202.27 | 73,515.90 | 68,099.68 |
| Total expenses | 100,093.30 | 81,737.75 | 75,695.93 |
| Restated loss before exceptional items and tax | ( 1,084.29 ) | ( 3.145.33 ) | ( 16,719.02 ) |
| Exceptional items | ( 13,464.34 ) | ( 131.08 ) | – |
| Restated loss before tax | ( 14,548.63 ) | ( 3,276.41 ) | ( 16,719.02 ) |
| Tax expense | |||
| Current tax | – | . | – |
| Current tax on account of business combination | 24,868.42 | . | – |
| Deferred tax | – | – | – |
| Total tax expense | 24,868.42 | – | – |
| Restated loss for the period / year | ( 39,417.05 ) | ( 3,276.41 ) | ( 16.719.02 ) |
Key financial ratios of Meesho Limited
| Particulars (₹ in million, unless otherwise specified) | Ended March 31 , 2025 | Ended March 31 , 2024 | Ended March 31 , 2023 |
| Restated loss for the period / year | ( 39,417.05 ) | ( 3,276.41 ) | ( 16,719.02 ) |
| Basic ( loss ) earnings per share | ( 9.98 ) | ( 0.87 ) | ( 4.43 ) |
| Diluted ( loss ) / earnings per share | ( 9.98 ) | ( 0.87 ) | ( 4.43 ) |
| Total equity | 14,455.18 | 22,296.42 | 24,719.15 |
| EBITDA | ( 14,139.41 ) | ( 2,631.59 ) | ( 16,405.27 ) |
| Net Worth | 15,618.77 | 23,016.37 | 25,483.14 |
| Return on Net Worth | ( 252.37 ) % | ( 14.24 ) % | ( 65.61 ) % |
| Net Asset Value per share | 3.68 | 6.10 | 6.76 |
Promoters & Shareholding Meesho Limited IPO
As of date, according to the DRHP filed with SEBI promoters and promoter group have 40.47% shareholding in company.
| Name | Number of Equity Shares | % of Equity Share capital |
| Promoters & promoter group | 788,248,697 | 40.47 |
| Public | 1,159,249,936 | 59.53 |
| Total | 1,947,498,633 | 100 |
Should You Subscribe To Meesho Limited IPO
While investing or subscribing to any IPO, consider the investment rationales related to the company. Hence, here you can find out the strength of the company that will be its growth factors. And also check the risk factors that can affect the growth and operational efficiency of the company.
Competitive Strengths of Meesho Limited IPO
Multiple scaled self-reinforcing platform
The company platform orchestrates transactions amongst consumers, sellers, logistics partners and content creators. These interconnected model create strong network effects and platform liquidity which enable faster matching and transactions between participants, leading to growth. These flywheels generate a large amount of data on aspects such as consumer preferences, pricing trends, seller performance which powers decision making in business.
AI focus driven solutions approach
The technology powers every part of company platform enable it to scale reduce costs and increase efficiency while enhancing the value generated and experience for all company stakeholder. The company has GenAI tool which their developers and engineers streamline software code generation, improve development velocity, and reduce time to deployment. It enables company models to refine recommendations, optimize fulfillment and prevent misuse in real time.
Delivering ‘everyday low prices’ for consumers
The company focuses on delivers ‘Everyday Low Prices’ for consumers on its platform which offer consumers to get products at low prices on Meesho without having to rely on limited time discounts and event based flash sales. The zero commission model of company for sellers combined with its lowcost order fulfillment reduces the average cost charged to sellers and enables them to provide a wide assortment of products at affordable prices on Meesho.
Ability to scale in a capital-efficient manner
The company operates on an asset-light business model in which company do not manufacture or sell private label products, own product inventory or logistics infrastructure. It makes company platform more capital-efficient compared to organized retail models that may depend on physical stores, warehousing, owned inventory and/or captive logistics. This allows company to pursue initiatives that are scalable and strengthen their core business.
Risk Factors of Meesho Limited IPO
Persistent Loss
The company has incurred losses since2015 while company has been cash flow positive in Fiscals 2025 and 2024, They had Restated loss before exceptional items and tax of ₹ 1.476.87 million, ₹1,084.29 million, ₹3,145.33 million and ₹16,719.02 million in the three months period ended June 30, 2025, and Fiscals 2025, 2024 and 2023. If company is unable to generate adequate revenue and manage our cash flows and expenses, we may continue to incur losses.
Customer retention
A decline in company consumer base could result in a corresponding decline in seller base, and in turn, a decrease in the assortment of products and diminish the overall attractiveness of platform. A decline in consumer engagement or retention may require to increase marketing and promotional spend in order to acquire and retain consumers. This could in turn adversely impact revenue from operations, cash flows and profitability.
COD dominates payments
The large portions of orders on Meesho are paid using cash on delivery (“CoD”). In the three months period ended June 30, 2025, and Fiscals 2025, 2024 and 2023, 75.09%, 76.95%, 85.39% and 88.71% of Shipped Orders were on CoD basis. It reduces the rate of successful deliveries and increases operational inefficiencies and risks related to cash handling for company.
High contingent liabilities
The company has contingent liabilities as per Ind AS 37 – Provisions, Contingent Liabilities and Contingent Assets, and company financial condition and cash flows could be adversely affected if any of these contingent liabilities materialize. The contingent liabilities above primarily relate to an ongoing dispute with AWS and certain tax disputes. These liabilities relate to disputes and litigation.
| Particulars | As of June 30, 2025 (in ₹ million) |
| Claims against the Group not acknowledged as debts: | |
| GST dispute | 142.91 |
| Landowner dispute | 72 |
| Vendor litigation | 1,168.70 |
| Income tax dispute | 5,720.69 |
Meesho Limited IPO Grey Market Premium
Grey market premium is the premium quoted over the IPO issue price. GMP shows that investors are ready to pay above the upper band of the IPO issue price. GMP is determined in the grey market as per the demand and supply of the shares in the primary market. A grey market is that unofficial ecosystem of unlisted companies’ stocks that start trading even before the launch of the IPO to the date of its listing.
Also Read: What is Grey Market Premium in IPO: How is GMP Calculated & Reliable
However, GMP is not a reliable factor, as it keeps fluctuating as per the demand and supply of shares in the primary market. There are numerous factors that affect the stock market in India and individual stock prices of different companies that are already listed and trading in the secondary market. However, for an IPO-bounded company, you can consider the GMP as the speculative listing price of the share
According to various online sources, the Grey Market Premium or GMP of the MEESHO LIMITED is trading around Rs XX in the grey market. It means shares are trading at the upper band issue price of Rs XX with a premium in the grey market and may list around the same price.
