| Price | Lot Size | Issue Date | Issue Size |
|---|---|---|---|
| ₹105 to ₹111 | 135 | 03rd Dec, 2025 –05th Dec, 2025 | ₹5421.20 Cr |
Meesho Ltd
Meesho Ltd., incorporated in 2015, operates a multi-sided technology platform that drives e-commerce in India by bringing together four key stakeholders – consumers, sellers, logistics partners, and content creators. Its e-commerce marketplace, branded as Meesho, has become the largest in India in terms of placed orders and annual transacting users during the twelve months ended June 30, 2025. The platform aims to serve consumers across all segments by focusing on affordability, accessibility, and engagement, with an emphasis on offering “Everyday Low Prices.” Meesho’s technology-first operations, platform scale, and operational efficiency enable low-cost order fulfillment for sellers. Coupled with its zero-commission model, this helps reduce overall seller costs and supports a wide assortment of products ranging from low-cost unbranded goods to regional and national brands, at affordable prices. Meesho uses advanced AI/ML algorithms to provide a personalized, discovery-led shopping experience that resembles offline window shopping, making online shopping easier and more engaging. Technology forms the backbone of the platform, ensuring reliable, scalable, and efficient e-commerce transactions at a population scale. The company operates across two segments: Marketplace, which connects consumers, sellers, logistics partners, and content creators; and New Initiatives, which include a low-cost local logistics network for daily essentials and a digital financial services platform. Meesho primarily monetizes through seller services such as order fulfillment, advertising, and data insights, while charging no commission to sellers and no platform fee to consumers. Meesho’s consumer base spans various income segments, typically value-focused and seeking a wide assortment of affordable products, including unbranded goods, regional brands, and national brands. Its logistics ecosystem includes first- and last-mile delivery providers, sorting centers, truck operators, and integrated logistics partners. Orders are fulfilled either through its proprietary and unique technology platform, Valmo, which manages a multi-stage logistics network across multiple logistics partners, or through end-to-end logistics providers. Content creators enhance the shopping experience by posting short-form videos and live streams on Meesho and other social media platforms. The company supports them with tools and data insights to improve the effectiveness of their content. Through these initiatives, Meesho continues to experiment with new opportunities and assesses product-market fit, scalability, and unit economics before scaling them further.
Objective of the Meesho Ltd IPO
The company proposes to utilize the net proceeds towards funding the following objects:
- Investment for cloud infrastructure in Meesho Technologies Pvt. Ltd., its subsidiary;
- Payment of salaries of existing and replacement hires for the Machine Learning and AI and technology teams for AI and technology development undertaken by Meesho Technologies Pvt. Ltd., its subsidiary;
- Investment in Meesho Technologies Pvt. Ltd., its subsidiary, for expenditure towards marketing and brand initiatives; and
- Funding inorganic growth through acquisitions and other strategic initiatives and general corporate purposes.
Rationale To Meesho Ltd IPO
Self-reinforcing flywheels set the foundation for long-term scalability
Meesho’s platform seamlessly facilitates transactions among its four key stakeholders – consumers, sellers, logistics partners, and content creators. At the core of the platform lies its commerce flywheel. As more consumers shop on Meesho due to its wide product assortment and affordable prices, order volumes increase, encouraging sellers to list more products and price them competitively. Rising order volumes also help logistics partners better utilize their capacity, improve fulfillment density, and lower service prices on a per order basis. As fulfillment costs decline, sellers can offer even more competitive pricing and list lower value products, which in turn attracts additional consumers. In parallel, the company has activated a content commerce flywheel to enhance product discovery and consumer engagement. As content volumes on Meesho increase, product discovery improves, driving higher order volumes and strengthening the core commerce flywheel. Together, these interconnected flywheels create strong network effects, improve platform liquidity, and generate large amounts of data on consumer preferences, pricing trends, seller performance, logistics partner performance, and the attractiveness of content. Leveraging the data generated, Meesho’s technology powers decision-making across the platform, such as hyper-personalized feeds and recommendations for consumers, product and pricing insights for sellers, fulfilment efficiency for logistics partners, and better targeting for content creators. This is further supported by the company’s culture of innovation, agility, and first-principles thinking. Overall, this foundation positions Meesho to deliver a seamless experience for all stakeholders while scaling its business in a capital-efficient manner.
AI-driven, technology-first approach to strengthen platform leadership
Every part of Meesho’s platform is driven by technology, enabling the company to scale, lower costs, and enhance overall efficiency while improving value creation for all stakeholders. Instead of depending on manual interventions, Meesho employs a technology-driven approach to problem-solving. The company has integrated GenAI tools across its engineering stack, helping developers and engineers streamline code generation, improve development velocity, and shorten deployment timelines. GenAI capabilities have also been embedded across functions to enhance scale and productivity. Meesho’s marketing and product teams leverage GenAI tools to create quality, contextual visual and video content, accelerating creative development for performance and brand campaigns. The platform is designed so that every stakeholder interaction is technology-driven, ensuring a seamless, intuitive user experience. Its mobile application is designed to be simple and intuitive, incorporating India-specific nuances. When a user opens the app, real-time AI models analyze multiple signals to generate an infinite feed of hyper-personalized product recommendations tailored to individual preferences. To accurately capture consumer intent, Meesho employs a multi-modal search system that supports text, image, and voice search. Every interaction on the platform generates data that feeds its AI/ML models, enhancing personalization. The company has also built platforms and frameworks that enable smooth transitions between technologies. This modular, granular approach allows Meesho to adopt the most efficient technology for each use case without altering its core codebase. Overall, its purpose-built technology stack supports experimentation, enabling the company to test, refine, and scale new ideas effectively.
Valuation of Meesho Ltd IPO
Meesho is a multi-sided technology platform driving e-commerce in India by connecting consumers, sellers, logistics partners, and content creators. Its value-focused marketplace serves consumers across diverse income segments by offering “Everyday Low Prices”. The platform is built to deliver a personalized, discovery-led shopping experience and generates revenue through services offered to sellers, including order fulfillment, advertising, and data insights. India’s e-commerce market is expected to reach Rs. 15-18 trillion in GMV by FY30, penetrating 12-13% of the overall retail sector. A significant portion of new online shoppers will emerge from Tier-2+ cities, which are projected to contribute 51-52% of the country’s e-commerce market by FY30. Meesho is well-positioned to benefit from this shift by offering an affordable, accessible platform tailored to a broad consumer base, enabling it to tap into this growing market opportunity and increase consumer penetration. The company’s interconnected flywheels enhance platform liquidity and generate large amounts of data on consumer preferences, pricing trends, seller performance, logistics efficiency, and content engagement. Meesho adopts a technology-first approach, allowing it to scale efficiently, lower costs, and increase operational effectiveness. On the financial front, while the company has reported higher losses due to one-off expenses, it has been free cash flow positive for the past two years. Meesho’s continuous investment in technology and ongoing improvements to the user experience strengthen its competitive position within the industry compared to its peers. At the upper price band, the company is valued at a Price/Sales multiple of 5.3x based on its FY25 revenue. Given the strong growth outlook of India’s e-commerce market and Meesho’s strategic initiatives to capture rising consumer demand, we recommend a “SUBSCRIBE” rating for this issue.
What is the Meesho Ltd IPO?
The initial public offer (IPO) of Meesho Ltd offers an early investment opportunity in Meesho Ltd . A stock market investor can buy Meesho Ltd IPO shares by applying in IPO before All Meesho Ltd shares get listed at the stock exchanges. An investor could invest in Meesho Ltd IPO for short term listing gain or a long term.
How to apply for the Meesho Ltd IPO through StoxBox?
To apply for the Meesho Ltd IPO through StoxBox one can apply from the website and also from the app. Click here
When will the Meesho Ltd IPO open?
Meesho Ltd IPO is opening on 03rd Dec 2025. Apply Now
What is the lot size of the Meesho Ltd IPO?
The Lot Size of Meesho Ltd IPO is 135 equity shares. Login to your account now.
When is the Meesho Ltd allotment date?
The allotment Date for Meesho Ltd IPO is 08th Dec 2025. Login to your account now.
When is the Meesho Ltd IPO listing date?
The listing Date for Meesho Ltd IPO is 10th Dec 2025. Login to your account now
What is the minimum investment required for the Meesho Ltd IPO?
In the Retail segment the minimum investment required is Rs. 14,985. Login to your account now
What is the maximum investment allowed for the Meesho Ltd IPO?
In the Retail segment the maximum investment requirement is Rs. 1,94,805. Login to your account now
What are the risks associated with investing in the Meesho Ltd IPO?
- A significant portion of orders on Meesho are paid through cash on delivery (CoD). In the past few years, more than 75% of shipped orders have been on a COD basis. This payment method lowers successful delivery rates and increases operational inefficiencies and risks associated with cash handling.
- Failure to effectively deal with any misuse of the platform or illegal activities by stakeholders, third-party service providers, or employees could damage the company’s business and reputation and expose the company to liabilities.
- If sellers on the platform fail to identify and respond to changing consumer preferences and spending patterns in a timely manner, demand for their products may decline, adversely impacting the company’s revenue, cash flows, and results of operations.
When will the Meesho Ltd IPO shares be credited to my Demat account?
The Meesho Ltd IPO be credited to the account on allotment date which is 09th Dec 2025. Login to your account now
Where can I find the Meesho Ltd IPO prospectus?
The prospectus of Meesho Ltd IPO prospectus can be find on the website of SEBI, NSE and BSE
