Meesho gets Sebi nod for ₹6,600-cr IPO

Meesho has received regulatory approval for its ₹6,600-crore initial public offering, in which early investors including Elevation Capital and Peak XV Partners are expected to sell part of their stakes.

- Sowmya Ramasubramanian

Founders Sanjeev Barnwal (L) and Vidit Aatrey, and investors like Elevation Capital and Peak XV, will sell part of their stakes.

(MINT)

The e-commerce platform will raise around ₹4,250 crore through new shares in the IPO, while the rest will come from an offer-for-sale, where existing shareholders sell their stakes to new investors.

The digital marketplace, which was founded in 2015 by Vidit Aatrey and Sanjeev Barnwal, is targeting a public market listing in December, as per its updated IPO document, filed with the Securities and Exchange Board of India on Sunday.

Aatrey, the chief executive officer, and Barnwal, the chief technology officer at Meesho, will also be selling some of their stakes in the company during the IPO.