Meesho IPO: Cofounders Rake In INR 354 Cr, Y Combinator Mints 108X Return

SUMMARY

Y Combinator, which offloaded 71.9 Lakh shares via the IPO, raked in 108X return at the upper end of the IPO price band of INR 105 to INR 111 per share

The company’s IPO comprised a fresh issue of INR 5,421 Cr and an offer for sale of up to 10.6 Cr shares

Elevation Capital, which offloaded the highest number of shares via the OFS at 2.4 Cr, bagged 37X return on its investment

The cofounders and investors of Meesho, which is set to list on the exchanges tomorrow, got hefty returns from the ecommerce unicorn’s IPO.

Y Combinator, which offloaded 71.9 Lakh shares via the IPO, raked in 108X return at the upper end of the IPO price band of INR 105 to INR 111 per share.

The company’s IPO comprised a fresh issue of INR 5,421 Cr and an offer for sale of up to 10.6 Cr shares. The issue received strong investor interest and was oversubscribed 79.03X.

Elevation Capital, which offloaded the highest number of shares via the OFS at 2.4 Cr, bagged 37X return on its investment. The VC firm’s average cost of acquisition of these shares was INR 3.04 apiece. Elevation Capital’s remaining stake in the company is worth INR 6,160 Cr (about $740 Mn) at the price of INR 111 per share.

Meanwhile, Peak XV Partners sold 1.7 Cr shares, bagging 26X return. The company still owns 46.9 Cr shares of Meesho, worth INR 5,205 Cr (about $625 Mn).

Sarin Family India LLC, the family office of former Vodafone CEO Arun Sarin, minted 50X return by selling 15.9 Lakh shares.

Gemini Investments and Golden Summit offloaded 12 Lakh and 79 Lakh shares, respectively. While Gemini Investments made 13X gain, Golden Summit bagged only 1.2X return as it acquired the shares of the company at an acquisition cost of INR 92.43.

Meesho Apart from institutional VCs, two individual investors, Man Hay Tam and Rajul Garg, also made multifold gains on their investments. Tam, general partner and founder of US-based investment firm Locus Ventures, invested in Meesho in 2016. As part of the OFS, he sold 33 Lakh shares of the company, bagging 217X return at the upper end of the price band.

Garg, the founder and managing partner of Leo Capital, offloaded 4.7 Lakh shares to get 258X return.

Cofounders Net INR 354 Cr

Meesho cofounders, Vidit Aatrey and Sanjeev Kumar, who sold 1.6 Cr shares each via the OFS, raked in INR 177 Cr each through their stake sale in the IPO.

Meesho

Aatrey’s remaining stake in the company is worth INR 5,072 Cr (about $615 Mn), while Kumar’s current stake is valued at INR 3,319 Cr (about $405 Mn).

Meesho’s IPO valued the company at INR 50,000 Cr (about $5.5 Bn). On listing, the unicorn would become the first horizontal ecommerce player to go public.

On the financial front, it posted a consolidated net loss of INR 701 Cr in H1 FY26, down 72% from INR 2,513 Cr in the year-ago period. Operating revenue rose 29% to INR 5,578 Cr during the first half of FY26 from INR 4,311 Cr in H1 FY25.