Meesho IPO – Key Highlights, Financial Performance and more....

Mani Metto
4 days ago
2 min read

Key Highlights

Meesho Limited is set to launch one of the most anticipated IPOs of 2025, with a large fresh issue and a strong focus on scaling its technological and logistics infrastructure. Here’s a clear breakdown of the IPO details, financials, and what investors should keep in mind.

Meesho IPO Details

Category	Details
IPO Open Date	December 3, 2025
IPO Close Date	December 5, 2025
Listing Exchanges	NSE, BSE
Tentative Listing Date	December 10, 2025
Price Band	₹105 – ₹111 per share
Face Value	₹1
Lot Size	135 shares
Total Issue Size	48.83 crore shares (₹5,421.20 Cr)
Fresh Issue	38.28 crore shares (₹4,250 Cr)
Offer for Sale (OFS)	10.55 crore shares (₹1,171.20 Cr)

About Meesho Ltd

Founded in 2015, Meesho is a multi-sided technology platform connecting consumers, sellers, logistics partners, and content creators. The company operates one of India’s largest value-focused e-commerce marketplaces, known for affordable products and ultra-low seller onboarding costs.

It operates through two key segments:

1. Marketplace

• Order fulfilment services

• Advertising

• Seller insights and analytics

• Large base of transacting users and sellers

2. New Initiatives

• Low-cost hyperlocal logistics

• Digital financial services

Meesho Financials (₹ in Crore)

Income Statement Summary

Period Ended	30 Sep 2025	FY25	FY24	FY23
Assets	6,640.39	7,226.09	4,160.99	3,853.35
Total Income	5,857.69	9,900.90	7,859.24	5,897.69
PAT	-700.72	-3,941.71	-327.64	-1,671.90
EBITDA	-551.87	-219.59	-230.15	-1,693.73
Net Worth	968.87	1,561.88	2,301.64	2,548.31
Total Borrowing	0	0	0	0

Key Points

• Revenue jumped 26% YoY in FY25

• Losses widened sharply (PAT down 1103%)

• EBITDA continues to remain negative

• The company has zero debt, but its net worth has declined sharply

Key Performance Indicators

KPI	Value
RoNW	-252.37%
P/B	30.16
Market Cap (post issue)	₹50,095.75 Cr
EPS (Pre-issue)	-9.54
EPS (Post-issue)	-3.11
P/E	Not meaningful (loss-making)

Strengths

• Large and growing base of sellers and users

• Strong logistics capability via Valmo

• Low-cost marketplace attracts value-conscious India

• Zero borrowing increases financial flexibility

• Investments targeted toward AI/ML-led efficiency and infrastructure

Risks & Concerns

• Heavy cash burn & large losses continuing over the years

• Declining net worth despite rising income

• Extremely high negative return ratios

• Intense competition from Flipkart, Amazon, Ajio

• Execution risk in new initiatives and acquisitions

• High valuation despite negative earnings

Meesho Ltd. peer comparison with similar listed entities. (As on March 31, 2025)

Company Name	EPS (Basic)	EPS (Diluted)	NAV (per share) (Rs)	P/E (x)	RoNW (%)
Meesho	-9.98	-9.98	3.68		-252.37
Eternal Limited	0.60	0.58	31.42	529.14	2.16
Swiggy Limited	-13.72	-13.72	40.98		-30.50
Brainbees Solutions Limited	-4.11	-4.11	91.00		-26.63
Fsn E-commerce Ventures Limited	0.23	0.23	4.55	1,168.43	5.21
Vishal Mega Mart Limited	1.40	1.36	13.92	99.53	9.85
Trent Limited	43.51	43.51	153.64	100.87	27.93
Avenue Supermarts Limited	41.61	41.50	329.29	98.43	13.63

Objectives of the Issue

Meesho plans to use the IPO proceeds for:

Investment in cloud infrastructure via subsidiary MTPL – ₹1,390 Cr
Salaries for ML, AI, and tech teams – ₹480 Cr
Marketing and brand investments via MTPL – ₹1,020 Cr
Inorganic growth & general corporate purposes