Meesho Ltd IPO

About Meesho Ltd

Our Company was originally incorporated as FashNear Technologies Private Limited at Bengaluru, Karnataka as a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated August 13, 2015 issued by the Registrar of Companies, Karnataka at Bengaluru (RoC). Thereafter, pursuant to a resolution passed by our Board dated April 22, 2025 and special resolution passed by our Shareholders dated April 23, 2025, the name of our Company was changed to Meesho Private Limited and our Company received a certificate of incorporation pursuant to change of name dated May 13, 2025 from the Registrar of Companies, Central Processing Centre. Upon the conversion of our Company into a public limited company, pursuant to a resolution passed by our Board dated June 5, 2025 and a special resolution passed by our shareholders dated June 5, 2025, the name of our Company was changed to Meesho Limited, and a fresh certificate of incorporation consequent upon conversion to public company dated June 10, 2025 was issued by the Registrar of Companies, Central Processing Centre.

Organised retail in India comprises two primary formats, organised brick and mortar and e-commerce. E-commerce is a retail format that facilitates buying and selling of goods over the internet. While organised brick and mortar presence is constrained by physical limitations, e-commerce has enabled broader geographic reach through its digital-first approach. India's e-commerce market is currently sized at Rs.6 trillion in terms of gross merchandise value (GMV) and is projected to reach Rs.15-18 trillion, penetrating 12-13% of India retail market by Fiscal 2030. Majority of new online shoppers are projected to come from tier 2+ cities, which are projected to account for 51-52% of India's e-commerce market by Fiscal 2030, up from 44% in Fiscal 2025. This growth is supported by several factors - internet adoption, smartphone penetration, low data costs, digital payments, and logistics improvements. While the number of online shoppers increases, e-commerce penetration remains low. Most retail categories continue to show limited online penetration. Within this landscape, value focused commerce has emerged. Value focused e-commerce runs on discovery-led purchase journey, and provision of wide, deep and affordable assortment of products. It monetizes largely through digital advertisements, owing to low commission structures and a large base of small-scale sellers. As digital infrastructure improves and consumer behavior evolves, e-commerce is expected to be a key driver of retail growth.

Meesho is a multi-sided technology platform driving e-commerce in India by connecting four key stakeholders: consumers, sellers, logistics partners, and content creators. Our value-focused ecommerce marketplace serves consumers from diverse income backgrounds across India by offering `Everyday Low Prices.' This is made possible by providing a low-cost channel for sellers, which in turn allows them to offer a wide assortment of products at affordable prices to consumers. Sellers on Meesho include manufacturers, wholesalers, and traders. We engage with logistics partners, encompassing first and last-mile delivery businesses, sorting centres, and truck operators, to ensure cost efficient order fulfilment. Content creators on Meesho enhance product discovery and drive sales by sharing engaging content. Our platform is designed to deliver a personalised discovery led shopping experience to consumers, making online shopping easy and engaging for consumers. We monetize our platform through services that are provided to sellers such as order fulfilment, advertising, and data insights.

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