Meesho files draft IPO papers via SEBI's confidential filing route

Homegrown e-commerce platform Meesho has filed confidential papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO), people aware of the developments told CNBC-TV18.

The SoftBank-backed company aims to raise up to ₹4,250 crore in primary capital through an IPO. This amount excludes the funds raised via the offer-for-sale (OFS) component.

Meesho is expected to raise up to ₹

8,500 crore in its IPO, through a mix of primary capital and secondary share sales.

The company is looking to list around September-October 2025.

Meesho has selected JP Morgan, Morgan Stanley, Citi, Kotak Mahindra Capital, and Axis as advisers for its IPO.

Meesho debuts on the exchanges in 2025 would have outpaced arch rival Walmart-owned Flipkart, an old and dominant player in the space. Flipkart, started in 2007, is preparing for a market debut, too, and waiting for its parent, the US retail giant, to decide on a timeline for its IPO.

When a company makes a confidential filing, details about the business will not be released to the public, unlike the normal route when the entire draft red herring prospectus (DRHP) is publicly available as soon as it is filed with SEBI. It was first introduced in November 2022.

In a regular filing, the approval is valid for 12 months after the market watchdog gives it final observations. In confidential filing, this is valid for 18 months from the date of SEBI observations on the confidential draft prospectus.