E-commerce giant Meesho is preparing to launch its initial public offering (IPO) with subscriptions starting Wednesday. The IPO seeks to raise Rs 42,500 million through a fresh equity issue and an Offer for Sale. CEO Vidit Aatrey emphasizes expansion, cash flow optimization, and leveraging technology from IPO proceeds.
Meesho: Unveiling IPO Plans with Strategic Growth Blueprint
E-commerce platform Meesho is gearing up to launch its much-anticipated initial public offering (IPO), with the subscription window opening on Wednesday. The IPO's price band is set between Rs 105 and Rs 111 per share. Anchor Investor Bidding will commence a day earlier on Tuesday.
The IPO, featuring a three-day bidding period, concludes on Friday. Interested investors can place bids for a minimum of 135 equity shares, or multiples thereof. The offering includes a fresh issue of equity shares amounting to Rs 42,500 million, in addition to an Offer for Sale of up to 105,513,839 equity shares by existing shareholders.
Meesho CEO and Founder Vidit Aatrey, in an interview with ANI, stated that the company's strategy focuses on rapid expansion and cash flow optimization. Aatrey highlighted Meesho's steady cash flow positivity over the past two years and projected continuous growth in accounting profit as the company scales up. IPO funds will be directed towards enhancing technology infrastructure, brand building, marketing, and exploring inorganic growth opportunities, Aatrey added.
