Meesho files confidential DRHP to raise Rs 4,250 crore; IPO size may touch Rs 8,500 crore

Meesho has taken a significant leap toward its public market debut. The Bengaluru-based firm has filed its Draft Red Herring Prospectus (DRHP) with SEBI through the confidential route, a regulatory provision that allows companies to initiate IPO proceedings without disclosing sensitive business information to the public or competitors like Amazon and Flipkart.

As per a report by Moneycontrol, the proposed IPO includes a Rs 4,250 crore primary capital raise and could total up to Rs 8,500 crore (approximately $1 billion) when factoring in secondary share sales. The listing is likely targeted for the September–October 2025 window, aligning with improved investor sentiment around tech-led growth stories.

Meesho joins a fast-growing pack of digital-first companies preparing to hit Dalal Street. In the past fortnight alone, Wakefit, Curefoods, Pine Labs and Shadowfax have filed DRHPs to collectively raise around Rs 6,000 crore in primary capital, signalling renewed optimism in India's tech IPO pipeline after a prolonged funding winter.

In preparation, Meesho has completed key pre-IPO formalities, it restructured its board, flipped back to India from its earlier U.S. holding structure, and transitioned into a public entity, all key milestones in its journey from unicorn to potential market mover.

By opting for the confidential route, Meesho retains strategic flexibility, able to tweak timelines based on market volatility, a path increasingly favoured by startups like Groww and Shadowfax. The move also hints at sharper competition in India’s evolving e-commerce landscape, where margins are thin and IP protection is critical.

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