Mumbai: Big e-commerce startup Meesho is now very close to launching its IPO. It is just one step away from filing the draft for its IPO. According to sources shared with Moneycontrol, Meesho is moving its base from Delaware, USA to India. This process is expected to finish in the next few days.
Bringing its headquarters to India is a big step in its IPO journey. After this move, the company will be ready to file the Draft Red Herring Prospectus (DRHP) with market regulator SEBI. Once this is done, the IPO draft will be filed within a few weeks.
How big will Meesho's IPO be?
Earlier this week, Meesho became a public company to strengthen its IPO plans. Moneycontrol had earlier reported that the company may raise up to USD 1 billion through the IPO. Meesho has already selected its bankers for the IPO. Its valuation may reach USD 10 billion, which is much higher than its previous USD 4 billion valuation.
Meesho ahead of Flipkart
Meesho was started in 2015 by IIT Delhi alumni Vidit Aatrey and Sanjeev Barnwal. The company has raised over USD 1.3 billion from investors like Tiger Global, SoftBank, and Elevation Capital.
If Meesho lists this year, it may go ahead of its rival Flipkart, which is still waiting for its parent company Walmart to decide the IPO timeline. Flipkart started in 2007 and is also planning to go public.
