SoftBank-backed Meesho has obtained shareholders’ approval to raise up to ₹4,250 crore through an preliminary public providing, in accordance to the corporate’s regulatory submitting.
The decision for IPO was handed within the Extraordinary General Meeting on June 25, the submitting by the e-commerce firm mentioned.
According to the submitting dated June 27, the shareholders authorised elevating up to ₹4,250 crore through issuance of recent equities.
The improvement comes after Meesho accomplished its domicile shift to India from the U.S.
The shareholders additionally authorised a change in designation of Meesho Co-Founder and CEO Vidit Aatrey as chairman and managing director of the corporate.
