Meesho to rename ahead of IPO; plans to drop ‘Fashnear’

Ecommerce unicorn Meesho has planned to change its legal name from Fashnear Technologies Private Limited to Meesho Private Limited ahead of its highly anticipated IPO. The move, approved by shareholders on April 23, is part of a broader push to align its corporate identity with its consumer-facing brand and eliminate potential confusion as it enters the public markets.

In a regulatory filing, Meesho stated that the name change is expected to boost brand recall, enhance stakeholder trust and improve the company’s overall market positioning. The name change is widely seen as a precursor to Meesho's IPO ambitions.

Earlier this year, the company also moved to shift its domicile to India, filing an application with the National Company Law Tribunal (NCLT) in Bengaluru.

Meesho is reportedly working with Morgan Stanley, Kotak Mahindra Capital and Citi as advisers for the upcoming public issue. While the timeline for the IPO remains under wraps, the brand alignment signals that Meesho is firming up its readiness for a market debut.

Founded in 2015 by IIT Delhi alumni Vidit Aatrey and Sanjeev Barnwal, Meesho has emerged as India’s third-largest ecommerce platform by Gross Merchandise Value (GMV). It has carved out a dominant niche in tier-II and tier-III markets through its capital-light business model and sharp focus on affordability.

Financially, Meesho has made strong strides toward profitability. The company slashed its net loss by 82% to Rs 304.9 crore in FY24, down from Rs 1,675 crore in FY23. Operating revenue also surged by 32.8% year-on-year to Rs 7,614.9 crore, underlining a robust growth trajectory ahead of its public listing.