Mumbai, November 28 (Udaipur Kiran): Founders and early investors of value-focused e-commerce company Meesho are set to reap massive windfall gains after the company fixed its IPO price band at Rs 105–111 per share, valuing the platform at nearly Rs 50,095.75 crore at the upper end based on basic outstanding shares.
Earlier, it was reported that Meesho was targeting a post-money valuation of around $5.93 billion or Rs 52,500 crore based on fully diluted shares for its proposed initial public offering.
The two co-founders, Vidit Aatrey and Sanjeev Kumar, who together hold over 18.5 per cent stake in the company, are among the biggest beneficiaries of the IPO.
Co-founder, Chairman and CEO Vidit Aatrey, who holds 47.25 crore shares representing an 11.1 per cent stake, had acquired these shares at an average price of Rs 0.06 per share. At the upper end of the IPO price band, his holding is now valued at Rs 5,245 crore, compared to an earlier value of about Rs 2.84 crore.
Co-founder, Whole-time Director and CTO Sanjeev Kumar owns 31.57 crore shares or a 7.41 per cent stake, purchased at an average price of Rs 0.02 per share. His stake is now valued at Rs 3,504 crore, up from around Rs 63 lakh earlier.
Early institutional investors are also witnessing sharp gains. Elevation Capital, which holds 57.95 crore shares or a 13.6 per cent stake acquired at an average of Rs 3.04 per share, now sees its holding valued at Rs 6,433 crore from about Rs 177 crore earlier.
Peak XV Partners, with 48.12 crore shares or an 11.3 per cent stake bought at an average of Rs 4.29 per share, now holds a valuation of Rs 5,342 crore, compared to about Rs 207 crore earlier.
YC Continuity Fund, holding 5.2 crore shares or 1.22 per cent stake at an average cost of Rs 1.02 per share, now has its stake valued at Rs 576 crore from Rs 5.3 crore earlier. Venture Highway’s holding rises to Rs 175 crore from Rs 73.5 crore, while Gemini Investments’ valuation increases to Rs 493 crore from Rs 8.3 crore.
Meesho’s initial public offering will open on December 3 and close on December 5. Anchor investor participation will begin on December 6.
The company has also reduced its offer for sale by nearly 40 per cent. Promoters and early investors will now sell 10.55 crore shares, down from the earlier planned 17.57 crore shares. At the upper price band, OFS proceeds stand at about Rs 1,172 crore, compared to Rs 1,950 crore earlier. The fresh issue component remains unchanged at Rs 4,250 crore.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.