New Delhi: SoftBank-backed Meesho has received shareholders’ approval to raise up to Rs 4,250 crore through an initial public offering, according to the company’s regulatory filing.
The resolution for IPO was passed in the Extraordinary General Meeting June 25, the filing by the e-commerce company said.
According to the filing dated June 27, the shareholders approved raising up to Rs 4,250 crore through issuance of fresh equities.
The development comes after Meesho completed its domicile shift to India from the US.
The shareholders also approved a change in designation of Meesho Co-Founder and CEO Vidit Aatrey as chairman and managing director of the company.
PTI
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