Meesho Limited, promoted by Vidit Aatrey and Sanjeev Kumar, operates as a pioneering multi-sided technology platform driving e-commerce throughout India. Its corporate headquarters are located in Bengaluru, Karnataka, India.

Business and Products

Meesho operates an e-commerce marketplace under the brand name "Meesho," which has become India’s largest in terms of number of orders and Annual Transacting Users among e-commerce players in the country in the last twelve months.

The platform connects four core stakeholders: consumers, sellers, logistics partners, and content creators.

1. Consumers: The platform targets value-focused consumers from diverse income backgrounds across India, striving to provide ‘Everyday Low Prices’. This affordability is supported by providing a low-cost channel for sellers.
2. Sellers: The seller base primarily includes manufacturers, wholesalers, and traders. Meesho provides a level playing field by offering a zero commission model for sellers, a key differentiator that contributes to reducing the average cost charged to sellers. Furthermore, Meesho is noted as the only scaled e-commerce player in India, as of September 2025, that permits sellers to register on its platform without requiring Goods and Services Tax (GST) registration, complying with existing regulations and thereby expanding access for small businesses.
3. Logistics Partners: The company works with logistics partners, including first and last-mile delivery businesses, sorting centers, and truck operators, ensuring cost-efficient order fulfilment. Meesho manages these services partially through its dedicated logistics platform, 'Valmo'.
4. Content Creators: Content creators utilize the platform to enhance product discovery and drive sales by sharing engaging content, monetizing their creativity while reinforcing the commerce flywheel.

The company operates in two main segments: the Marketplace (the core e-commerce technology platform) and New Initiatives. New Initiatives encompass a low-cost local logistics network for daily essentials and a digital financial services platform. Subsidiaries play a key role, with Meesho Technologies Private Limited (MTPL) operating the core e-commerce marketplace and Meesho Grocery Private Limited (MGPL) managing the local logistics network for daily essentials and groceries.

Revenue Streams

Meesho monetizes its platform through various services provided to its sellers. The major segment, Revenue from operations – Marketplace, includes income generated from services such as:

• Order fulfilment services (delivery and return pickup).
• Advertising services.
• Data insights and other associated services.

The company does not charge sellers any commission or consumers any platform fees. Additional revenue streams are generated through the New Initiatives segment, which includes low-cost local logistics and the digital financial services platform.

Objects of the Issue

The Initial Public Offering (IPO) consists of a Fresh Issue of Equity Shares aggregating up to ₹ 42,500 million and an Offer for Sale of up to 105,513,839 Equity Shares by the Selling Shareholders.

It is important to note that the company will not receive any proceeds from the Offer for Sale; these funds will be paid to the respective Selling Shareholders.

The Net Proceeds from the Fresh Issue are intended to be utilized by Meesho Limited towards funding the following primary objectives:

1. Investment for Cloud Infrastructure in Meesho Technologies Private Limited (MTPL): The company intends to utilize ₹ 13,900 million of the Net Proceeds for investment in MTPL for cloud infrastructure. This investment is scheduled for deployment across Fiscal 2027, Fiscal 2028, and the first quarter of Fiscal 2029, and is aimed at ensuring the Meesho platform is adaptable and capable of supporting evolving operational needs.
2. Payment of Salaries for Machine Learning and AI and Technology Teams: A portion of the Net Proceeds is allocated towards paying the salaries of existing and replacement hires for the Machine Learning and AI and technology teams, with this development work housed within MTPL.
3. Investment in MTPL for Marketing and Brand Initiatives: The company intends to utilize ₹ 10,200 million to invest in MTPL for marketing and brand building initiatives. This is considered integral to Meesho’s growth strategy, with deployment planned for Fiscal 2027 and Fiscal 2028.
4. Inorganic Growth and Strategic Initiatives: Funds are earmarked for inorganic growth through acquisitions and strategic initiatives. As of the date of the Red Herring Prospectus, no definitive agreements for such acquisitions have been entered into.
5. General Corporate Purposes: A portion of the Net Proceeds is also reserved for general corporate purposes.