IPO-Bound Meesho Renames Parent Company To Align Corporate & Brand Identity

In the run up to its IPO, ecommerce major Meesho has altered its legal name to ‘Meesho Private Limited’ from ‘Fashnear Technologies Private Limited’. 

In a filing with the MCA, the company said that the move will align its corporate identity and brand identity, thereby eliminating any inconsistencies in public perception. The startup received the approval from its shareholders for the name change on April 23, the filing showed. 

“This will enhance brand recall, stakeholder trust, and overall business positioning,” Meesho said. 

Besides, the move would strengthen stakeholder confidence, facilitate operational and strategic synergy, and enable future growth and expansion by improving global recognition and market adaptability, it added.

This adds on to the ecommerce company’s preparations for its IPO. In January, Meesho moved an application at NCLT Bengaluru to shift its domicile to India. 

While there isn’t much clarity about the timeline of the company’s IPO, it is said to have roped in Morgan Stanley, Kotak Mahindra Capital and Citi as advisers for its public issue. 

Meanwhile, Meesho’s rival Flipkart is also gearing up for its public listing. Last week, the ecommerce giant confirmed its plans to reverse flip back to India. 

Founded in 2015 by IIT alumni Vidit Aatrey and Sanjeev Barnwal, Meesho is India’s third-largest ecommerce platform by GMV. 

As per a report by CLSA, Meesho is expected to expand its market share to 10% in ecommerce over the next six years, driven by strong traction in tier II and III cities, a capital-light model, and a sharp focus on affordability.

On the financial front, Meesho cut its net loss by 82% to INR 304.9 Cr in FY24 from INR 1,675 Cr in the previous year. Operating revenue zoomed 32.8% YoY to INR 7,614.9 Cr during the year under review.

It is pertinent to mention that changing the name of a parent entity before going for an IPO is a common phenomenon. Earlier this month, IPO-bound Zepto also changed the name of its registered entity from Kiranakart Technologies Private Limited to Zepto Private Limited. The quick commerce major cited reasons similar to what Meesho has cited in its regulatory filings for the name change. 

The IPO rush in the Indian startup ecosystem comes after a blockbuster 2024, which saw 13 new-age tech companies go public. On the back of this, more than 20 startups are slated to go public this year, with Ather Energy on track to become the first new-age tech company of 2025 to go public. 

While BlueStone and Aye Finance have received SEBI’s nod to proceed with their respective IPOs, the likes of Urban Company, PhysicsWallah, and boAt have filed their draft IPO papers with the regulator.