Indian e-commerce platform Meesho Ltd. is set to raise as much as 54 billion rupees ($605 million) through an initial public offering that will open on Dec. 3, according to people with knowledge of the matter.
The SoftBank Group Corp.-backed company plans to offer the shares at about 111 rupees each, which is the upper end of the price band, valuing the company at as much as $5.9 billion, said the people, who asked not to be identified discussing private information. The issue will close on Dec. 5, people said.
A representative for Meesho didn’t respond to requests for comment.
Meesho, an online marketplace popular in smaller Indian cities, joins a growing list of companies tapping the country’s booming IPO market. Indian firms have raised nearly $19.5 billion so far this year, following a record $21 billion in 2024, according to data compiled by Bloomberg.
Kotak Mahindra Capital Co., Axis Bank Ltd., and the local units of JPMorgan Chase & Co., Morgan Stanley and Citigroup Inc. are advising on the offering, according to the prospectus.
By Rajesh Mascarenhas
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