Meesho targets $1 billion IPO this Diwali: India comeback fuels $10 billion valuation

Meesho, the Indian e-commerce startup, is set to launch a $1 billion initial public offering (IPO) this Diwali, targeting a valuation of $10 billion. This move follows the National Company Law Tribunal's approval for Meesho to flip its headquarters from Delaware, USA, back to India, aligning its corporate structure with its operational base.

The company began the re-domiciliation process in 2024, reflecting its focus on the Indian market where the majority of its customers, sellers, creators, and partners operate. A Meesho spokesperson stated, 'With the majority of our operations, including customers, sellers, creators and Valmo partners already based here, this step aligns our corporate structure with our day-to-day business footprint.'

This strategic shift is a significant milestone in Meesho's IPO journey, signaling confidence in its growth prospects and the Indian e-commerce sector. The planned IPO around Diwali aims to raise substantial capital to fuel further expansion.

Key Quote: "This step aligns our corporate structure with our day-to-day business footprint," said a Meesho spokesperson.

Key Stats: $1 billion IPO target; $10 billion valuation; IPO planned for Diwali 2024.

Meesho's return to India as its corporate base underscores the growing trend of startups re-aligning with their primary markets to leverage local opportunities and investor confidence. The upcoming IPO is expected to be one of the major listings in the Indian tech ecosystem this year.

Meesho, the e-commerce startup, plans a $1 billion IPO this Diwali, targeting a $10 billion valuation after flipping its headquarters back to India from Delaware. The move aligns its corporate structure with its primary operations, marking a significant step in its India comeback and IPO journey.