Meesho will get shareholders’ nod to lift ₹4,250 crore by way of IPO

SoftBank-backed Meesho has acquired shareholders’ approval to lift as much as ₹4,250 crore by way of an preliminary public providing, in keeping with the corporate’s regulatory submitting.

The decision for IPO was handed within the Extraordinary Normal Assembly on June 25, the submitting by the e-commerce firm stated.

In accordance with the submitting dated June 27, the shareholders accredited elevating as much as ₹4,250 crore by way of issuance of contemporary equities.

The event comes after Meesho accomplished its domicile shift to India from the U.S.

The shareholders additionally accredited a change in designation of Meesho Co-Founder and CEO Vidit Aatrey as chairman and managing director of the corporate.