Meesho, an e-commerce firm, plans to channel Rs 480 crore from its IPO toward salaries for AI and technology teams. The firm aims to raise Rs 5,421 crore through the IPO. The allocation reflects a strategic focus on tech talent and infrastructure expansion.

Meesho's IPO: Betting Big on Tech Talent

Meesho Allocates Rs 480 Crore from IPO for AI and Technology Staff

Meesho, a leading e-commerce company, has announced plans to allocate Rs 480 crore from its upcoming Initial Public Offering (IPO) to cover salaries for its AI and technology staff.

Key Highlights of Meesho's IPO

Meesho is backed by SoftBank and aims to raise Rs 5,421 crore through its IPO.
The IPO comprises a fresh issue of shares valued at Rs 4,250 crore and an Offer For Sale worth Rs 1,171 crore.
The IPO is scheduled to open on December 3, with plans to debut on the stock market by December 10.

Allocation of Funds from IPO Proceeds

Personnel Costs: Rs 480 crore allocated for salaries of AI and technology staff.
Cloud Infrastructure: Rs 1,390 crore set aside for investments in cloud infrastructure.
Marketing: Rs 1,020 crore allocated for marketing initiatives.
Acquisitions and Corporate Initiatives: Additional allocations reserved for growth ambitions.