Meesho plans $1 billion IPO at $10 billion valuation: Report

Meta-backed e-commerce company Meesho is planning to list on stock exchanges around Diwali this year, aiming to raise around $1 billion in an initial public offering (IPO) at a valuation of $10 billion, Moneycontrol reported on Monday citing sources aware of the development. Listing at $10 billion would multiply the startup‘s valuation by 2.8x from $3.5 billion.

Fidelity in January this year had slashed Meesho’s valuation to $3.5 billion. The startup was valued at $4.9 billion as of September 2021. According to the report, the company has picked Citi, Morgan Stanley, and Kotak Mahindra Capital as advisers.