Homegrown e-commerce company Meesho has received board and member approval to change its legal name from “Fashnear Technologies Private Limited” to “Meesho Private Limited,” as per a regulatory filing with the Registrar of Companies (RoC), as per a news report. The move is a strategic decision ahead of its upcoming IPO.
According to the filing, Meesho has built strong brand recognition, leadership in the e-commerce sector, and significant customer trust. The board believes it is essential to align the company’s legal identity with the established Meesho brand for better market clarity and positioning.
This development follows reports that Meesho is preparing for a $1 billion IPO. The company has reportedly engaged Morgan Stanley, Kotak Mahindra Capital, and Citi as advisers, and may include JP Morgan in the syndicate. The IPO, which could value Meesho at US$10 billion, is expected around Diwali 2025.
In addition to its IPO plans, Meesho recently rolled out its largest-ever employee stock ownership plan (ESOP) buyback worth ₹200 crore, benefiting 1,700 current and former employees. The co-founders also exercised 27 lakh options valued at US$120 million.
The company reported ₹7,615 crore in revenue in FY24, reflecting a 33% year-on-year growth. It also cut adjusted losses by 97% to ₹53 crore. In the first 9 months of FY25, Meesho processed 1.3 billion orders.
By renaming its legal entity and preparing for a major IPO, Meesho is solidifying its market identity and financial credibility. This strategic repositioning underscores the company’s growth trajectory and future ambitions.
Read more on: Bajaj Finance Declared Bonus Shares, 1:1 Stock Split, and Record ₹56 Dividend
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Published on: Apr 30, 2025, 4:29 PM IST
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