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Meesho, an Indian e-commerce competitor to Amazon and Flipkart, is set to launch a $606 million IPO, marking India’s first major online retail listing. The offering includes token sell-offs from early investors but lacks participation from major firms like SoftBank and Prosus, reflecting confidence in the sector’s growth. The startup plans to price shares between ₹105–111, raising ₹42.5 billion in fresh capital and boosting its post-IPO valuation to around ₹501 billion. Flipkart is expected to pursue an IPO next year, while Amazon is reportedly considering a spin-off of its India operations for a potential listing. This IPO highlights the expanding opportunities for tech-driven retail in India despite global trends of shareholder exits.

Key facts

• Meesho’s IPO targets $606 million, making it India’s first major e-commerce public offering.
• The offering includes token sell-downs from early backers but excludes major institutional investors like SoftBank.
• Meesho’s post-IPO valuation is projected at $5.6 billion, up from its $5 billion private market valuation in 2021.
• Flipkart plans to file for an IPO in 2025, with Amazon exploring a potential spin-off of its India unit.
• Early shareholders, including Elevation Capital, are participating in the IPO’s secondary sales.