Indian ecommerce giant Meesho is in the final stages of completing its redomiciling process from the US to India, a move that brings it one step closer to launching its highly anticipated initial public offering (IPO). According to reports, the company may file its IPO papers via the confidential route as early as next week, although the filing could be pushed to later this month depending on internal timelines.
Meesho’s “flip back” process — the legal and structural procedure of shifting its parent entity back to India — is a critical step for Indian startups seeking to list domestically. With this transition nearly complete, Meesho will join a growing list of high-profile startups opting for domestic listings over offshore IPOs.
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ToggleAccording to a Bloomberg report, Meesho plans to raise between $700 million and $800 million through its IPO. This is slightly lower than earlier market speculation, which pegged the IPO size at around $1 billion. The revised figure likely reflects current market dynamics, investor sentiment, and the company’s capital requirements.
While Meesho has yet to officially confirm the IPO size or valuation, industry experts believe the company is taking a strategic approach by adjusting expectations in response to global economic uncertainty and cautious investor sentiment.
Meesho is expected to adopt the confidential IPO filing route, a provision allowed under Indian regulatory norms that enables companies to submit draft IPO papers without making them public immediately. This route allows startups more flexibility in preparing for a public listing while minimizing market speculation and pressure.
Confidential filings have become increasingly popular among Indian startups as they allow for greater privacy, fewer regulatory disclosures upfront, and more time to test market interest before launching a public roadshow.
Meesho’s redomiciling process is part of a broader trend where Indian startups originally incorporated overseas are returning to India to take advantage of favorable regulatory frameworks, investor access, and domestic listing opportunities. Several high-profile companies, including PhonePe and Groww, have already completed similar transitions.
This move is seen as a vote of confidence in India’s capital markets and aligns with the government’s efforts to encourage homegrown tech companies to list domestically rather than abroad.
Founded in 2015, Meesho has emerged as a dominant force in India’s social commerce and ecommerce ecosystem, empowering millions of small sellers and resellers, especially in Tier 2 and Tier 3 cities. The company is backed by marquee investors such as SoftBank, Meta (formerly Facebook), and Sequoia Capital.
Its upcoming IPO is expected to be one of the most significant public listings in the Indian ecommerce sector in recent years, and the success of this offering could set the tone for future tech listings.