Meesho to raise funds before IPO

Social e-commerce platform Meesho is in early talks with domestic and foreign institutional investors for a pre-IPO placement as it prepares for a public listing next month, three people familiar with the matter said.

- Sneha Shah & Priyamvada C

“The company is looking to raise anywhere between $50-70 million as part of the pre-IPO placement,” one of these people said, adding that the size of the company’s IPO would change once the pre-IPO placement went through. “The company is talking to several global sovereign wealth funds who are keen to come in pre-IPO,” this person added.

“Meesho is in active discussions with institutional investors as there is a lot of demand for the asset,” said a second person, adding that the conversations would progress based on price discovery over the next 7-10 days.

When contacted, Meesho declined to comment.