Meesho Files Secret IPO Draft Paper With SEBI To Raise Rs.4,250 Crore
Meesho Files Secret IPO Draft Paper With SEBI To Raise Rs.4,250 Crore
The total size of the IPO comprising secondary share sale has not been established
Meesho, the e-commerce firm backed by Softbank has confidentially filed a draft paper with the Securities and Exchange Board of India (SEBI) for an IPO to raise Rs.4,250 crore.
The confidential pre-filing route allows the company to withhold public disclosure of IPO details under the draft red herring prospectus (DRHP) until later stages. It offers greater flexibility and reduces the pressure to go public swiftly.
On the other hand, the traditional route requires companies to launch their IPOs within 12 months of receiving the SEBI’s approval. The pre-filing route extends this window to 18 months from the receipt.
The resolution to launch an IPO was passed in the Extraordinary General Meeting on 25 June.
