Homegrown e-commerceplatformMeesho plans to goopenafterwardthis year,pointingto raise around $1 billion through an IPO,concurringto Moneycontrol.

The SoftBank-backed companypointsto raise $1 billion at a $10 billion valuation, with JP Morganpossiblyjoining the IPO syndicate.

As per the report, Meesho plans torecorddraftreportsbefore longand isanticipatedto list around Diwali,amidSeptember–October.

Meesho is the third-largestlevele-commercestagein India, after Flipkart and Amazon, claiming 14.5 croreinterestingyearlyexecutingclients. Between January and December 2024, the Vidit Aatrey-led company saw a 3Xincrementinarrangevolume on thestagethroughsubstancecommerce. It hasmoreovercollaboratedwith over 21,000makers.

Priorthis year, media reportsrecommendedthat Meesho closed asecondaryexchangeat a valuation of $3.9–4 billion. This was a 20cline from itspastvaluation of $4.9 billion.

Concurringto TheKredible, Meeshoenlisteda 33% year-on-year developmentinworkingincomein FY24 to Rs 7,615 crore compared to Rs 5,735 crore in FY23.