Meesho IPO news: The wait for the IPO of the country’s well-known e-commerce company Meesho may end soon. According to a report published in Hindustan News, if everything goes right, the company can launch its IPO in the month of December.
According to an industry source, the company has decided its valuation after road shows and discussions with investors. Soon the company will be ready for listing in the Indian stock market. Draft papers were filed confidentially with SEBI on behalf of the company in the month of July.
meesho ipo details
Meesho is preparing to enter the stock market and under this the company is planning to raise about Rs 4,250 crore. This IPO will include a fresh issue of the same amount, while some old investors of the company are planning to sell their 17,56,96,602 shares.
Early investors like Elevation, Peak XV, Venture Highway and Y Combinator can sell their shares. According to the information received, these investors can sell about 5 to 7 percent of their stake in the market. The responsibility of taking the IPO forward is being handled by Kotak Investment Banking, JP Morgan, Axis Capital, Citi and Morgan Stanley, who will be its book running lead manager.
What will happen to the money raised from IPO?
Meesho will invest the amount raised from IPO in Meesho Technologies Private Limited (MTPL). The company plans to use the IPO money on cloud infrastructure, AI and machine learning team salaries. There is also a plan to invest in things like marketing and company branding.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
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