Suspense crime, Digital Desk : In a significant move towards its much-anticipated stock market debut, social commerce unicorn Meesho has officially changed its legal status from a private to a public limited company. This conversion is a mandatory and crucial step for any firm planning to launch an Initial Public Offering (IPO).

The company’s name has been formally changed from “Meesho Private Limited” to “Meesho Limited” after receiving approval from its shareholders during a recent Extraordinary General Meeting (EGM). The company is now in the process of altering its Memorandum of Association (MOA) and Articles of Association (AOA) to align with the regulatory requirements for a public entity.

This development solidifies Meesho’s ambitions for a public listing, which is expected to take place in late 2025 or early 2026. The company is reportedly targeting an IPO size of up to $1 billion, which will likely consist of a mix of a primary issue of new shares and an Offer for Sale (OFS) by some of its early investors.

The move towards an IPO is bolstered by the company’s improving financial health. Meesho announced that it had achieved profitability in the quarter ending September 2023 and has been working to sustain this positive momentum.

Backed by major global investors including SoftBank, Peak XV Partners, Fidelity, and Prosus, Meesho operates on an asset-light model connecting sellers directly with customers, with a strong focus on Tier 2 and smaller cities in India. This conversion to a public entity marks a major milestone in its journey from a disruptive startup to a mature company preparing for public scrutiny and investment.

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