Meesho IPO

About the company

Meesho Limited operates a multi-sided e-commerce marketplace under the brand name Meesho that connects four key stakeholders: consumers, sellers, logistics partners and content creators, through its technology-first platform. The company’s platform has emerged as India’s largest e-commerce platform in terms of annual transacting users and number of orders placed in the twelve months ended September 30, 2025. The platform enables consumers to access a wide range of products at low prices, while the sellers on the platform benefit from low costs. This is reflected in the average order value (AOV), which has reduced from ₹336.71 in FY23 to ₹274.27 in FY25. Meanwhile, the number of orders placed rose from 102.4 crore to 183.4 crore during the same period. Between FY23 and FY25, the annual transacting users on the Meesho platform grew at a CAGR of 20.7% from 13.6 crore to 19.8 crore. Meesho platform has demonstrated high levels of engagement, with 13.53 billion average daily product views in FY25. Content commerce contributed ₹12.08 billion in Marketplace Net Merchandise Value (NMV) in the last twelve months ended on September 30, just 23 months after its launch. During the six months ended September 30, 2025, Meesho had 153.72 million daily active product listings, against 109.65 million in the prior period. Additionally, 73.18% of orders as of September 2025 came from personalised feeds and recommendations driven by its discovery-led model, which encourages high engagement. The company’s seller base has grown significantly from 513,757 annual transacting sellers in FY25 to 706,471 in the LTM that concluded on September 30, 2025. The widespread participation of small manufacturers and local traders was made possible by the company’s zero commission model, inexpensive fulfilment, and GST-optional onboarding. Consequently, the platform further enhanced the efficiency of seller activation, with a drop in the average time to first order from 32 days in FY23 to 16 days in FY25, further decreasing to 15 days in the LTM period. The company operates one of India’s largest asset-light fulfilment networks, handling 29–31% of national e-commerce shipments (ex-hyperlocal) in FY25. From 1.83% of shipped orders in FY23 to 48.08% in FY25 and 64.52% in the six months ending September 30, 2025, its in-house logistics arm, Valmo, has experienced significant growth. Meesho supported 18,098 active logistics providers, five end-to-end partners, and 102,349 delivery agents. In FY25 and in the last twelve-month period ended September 30, 2025, Meesho supported 18,098 active logistics providers, five end-to-end partners, and 102,349 delivery agents. A key component of Meesho's business strategy is technology and artificial intelligence. As of September 2025, the platform processed 5.92 billion data points daily and 4.24 billion data points in FY25. It also allows search in 11 languages. Its ML engine, BharatMLStack, processed 1.91–2.85 PB of data every day, enabling up to 217.17 trillion feature retrievals and 6.40 trillion real-time inferences. The company also developed GeoIndia LLM to interpret unstructured Indian addresses, increasing delivery accuracy and fulfilment efficiency, especially in non-metropolitan areas. The Indian E-commerce market is projected to grow at a 20–25% CAGR over the next 5 years, driven by increasing smartphone penetration, regional e-commerce adoption, and growth in small and micro-enterprises. Meesho is well-positioned to capture India’s rapidly growing social commerce opportunity, as the largest player by placed orders (~5.9x the average scaled e-commerce player) and the leading platform in Fashion (GMW market share 21-23%) and Home, Kitchen & Furnishing (GMV market share 23–25%), while ranking among the top three in Beauty & Personal Care. Additionally, the company also maintains 35–61% lower cost to enable sales compared to its peers, further boosting its reach. The company intends to increase its customer base and transaction frequency by expanding its product listings and seller base, further investing in technology and product development and deepening its ability to make e-commerce affordable and accessible. Now, Meesho Ltd is launching its initial public offering (IPO), which consists of a fresh issue of ₹4,250 crore and an offer for sale of ₹1,171.20 crore. The total issue size of the IPO is ₹5,421.20 crore. Its shares will be listed on the NSE and BSE. ## **How to pre-apply for the Meesho Limited IPO?** You can pre-apply for the Meesho Limited IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription. Follow these steps to pre-apply for the IPO: - Login to your Upstox account, using your six-digit PIN - After successfully logging in, click on ‘Discover’ - On the Discover tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘Meesho Limited IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Pre-Apply’ - Accept the mandate on your UPI app ##** How to apply for the Meesho Limited IPO? ** If you are interested in this investment opportunity but unsure how to apply for the Meesho Limited IPO, here we are listing out the steps for you. Here’s a step-by-step guide on how to apply for the Meesho Limited IPO on Upstox: - Login to your Upstox account, using your six-digit PIN - After successfully logging in, click on ‘Discover’ - On the Discover tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the Meesho Limited IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Apply’ - Accept the mandate on your UPI app ## **How to check the Meesho Limited IPO allotment status?** When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to seven days after an IPO closes. This is also true in the case of the Meesho Limited IPO. The Meesho Limited IPO’s closing date is 5 December 2025. The Meesho Limited IPO’s allotment date has been set seven days later, on 8 December 2025. Here’s a step-by-step guide on how to check the Meesho Limited IPO allotment status: - Login to your Upstox account, using your six-digit PIN - After successfully logging in, click on ‘Discover’ - On the Discover page, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, you will find the ‘View all’ option - Once you click on ‘View all’, you will be directed to the ‘IPO’ tab - In the ‘IPO’ tab, click on ‘My applications’ - In ‘My applications’, under the History section, your allotment status will be mentioned.

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   03 Dec 2025

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   05 Dec 2025

   Last day to place your bid

3. Basis of Allotment

   Completed
   08 Dec 2025

   Share allotment finalised

4. Refund Initiation

   Completed
   09 Dec 2025

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   09 Dec 2025

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   10 Dec 2025

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.