Meesho’s value-commerce bet gets market endorsement

MEESHO'S STOCK MARKET debut has put a public-market stamp of approval on a business model that has long run counter to the dominant playbook of Indian e-commerce.

- AYANTI BERA

After a buoyant listing on December 10 against an issue price of ₹111, the stock climbed to a peak of ₹235 within two weeks, marking one of the strongest debuts in recent years.

The rally has drawn attention to Meesho's value-commerce strategy,which prioritises low prices and cost efficiency over speed and premiumisation. Brokerages have likened the model to platforms such as China's Pinduoduo and Southeast Asia's Shopee, which focus on price-sensitive consumers and operate asset-light marketplaces. Meesho does not charge seller commissions, instead monetising through advertising, logistics, working capital financing and other value-added services.

Founded in 2015, Meesho began as a Shopify-style storefront aimed at small sellers in the unbranded products market. It soon found traction among resellers, particularly homemakers and small entrepreneurs, who used platforms such as WhatsApp and Facebook to sell products without holding inventory. Founders Vidit Aatrey and Sanjeev Kumar built tools that lowered entry barriers and minimised capital requirements, an approach that later shaped the company's cost structure.