Meesho founders’ stake worth $1.4billion after 53% listing day gain

BENGALURU/MUMBAI: Startup Meesho’s two founders together turned billionaires on Wednesday as the stock jumped over 50% on listing on the bourses following its strong IPO that closed on Dec 5. The strong listing gains also brought in riches for all of Meesho’s early backers with their holdings now worth nearly $6 billion.

In addition, the founders – Vidit Aatrey and Sanjeev Kumar – and the early backers including global private equity majors like Elevation Capital, Peak XV Partners and Y Combinator made millions from the IPO.