Reverse flip nearing completion: Meesho is expected to conclude its redomiciling (reverse-flip) from the U.S. to India this week, a crucial regulatory move that sets the stage for its IPO filing.

IPO filing timeline: Once the reverse flip is finalized, Meesho plans to confidentially submit its Draft Red Herring Prospectus (DRHP) later this month, with public listing expected around Diwali (September–October) per multiple sources.

Public limited conversion: As of June 11, Meesho has converted into a public limited company, renamed Meesho Limited, issued ₹411 crore in bonus shares, and appointed major banks—including Kotak Mahindra, Morgan Stanley, JPMorgan, and Citi—as lead bankers.

Valuation and funding: The company recently raised over $550 million (mixed primary/secondary), bringing its valuation to around $3.9–4 billion in FY24. It’s targeting up to $1 billion in IPO proceeds, with a planned valuation of ~$10 billion at listing time.

Regulatory context: The move to flip its domicile aligns with a wider trend among startups like Flipkart, PhonePe, Razorpay, and Zepto preparing for domestic IPOs. Meanwhile, the RBI is tightening norms for digital firms ahead of their listings.

Would you like deeper analysis—like bank mandates, valuation breakdown, or comparisons with Flipkart’s timeline?

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