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Meesho IPO: SoftBank-backed firm set to launch Rs 4,250 cr IPO on Dec 3; what investors should know – The Times of India
SoftBank-backed e-commerce firm Meesho will open its initial public offering on December 3, featuring a Rs 4,250-crore fresh issue of shares, according to the red herring prospectus filed on Thursday. The issue will close on December 5, while anchor investors will be allotted shares on December 2, PTI reported.Alongside the fresh issue, the IPO will include an offer-for-sale of 10.55 crore shares by existing investors. Early backers such as Elevation, Peak XV, Venture Highway and Y Combinator will offload part of their holdings through the OFS.Where the proceeds will goMeesho said the funds raised will be deployed for cloud infrastructure investments, marketing and brand-building initiatives, inorganic expansion through acquisitions and other strategic plans, and general corporate purposes. The size of the issue and the company’s valuation will depend on the price band, which will be released on Friday.Platform metrics show strong tractionIn FY25, Meesho connected more than 500,000 transacting sellers with 199 million annual transacting users, enabling 1.8 billion placed orders. The company’s Net Merchandise Value (NMV) rose 29 per cent year-on-year to Rs 29,988 crore in FY25, after growing 21 per cent in FY24.Meesho defines NMV as the cumulative checkout value of successfully delivered orders, including taxes. The metric is a key gauge of platform health as it reflects user adoption and repeat engagement, making it central to revenue, margin and cash-flow trends.On the financial front, Meesho reported a net loss of Rs 3,942 crore in FY25, driven largely by one-time exceptional items, including reverse flip tax and perquisite tax linked to its transition to a public structure.
It is unusual for a senior figure at the Bank to be so forthright on market movements.
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People walk past a Nike store in New York City, on April 2, 2025.
Kylie Cooper | Reuters
Nike announced a new round of layoffs Thursday affecting approximately 1,400 employees across the organization, mostly concentrated in its technology department.
In a note from COO Venkatesh Alagirisamy, the company said the layoffs were part of Nike’s broader “Win Now” turnaround strategy aiming to reshape its technology team, modernize its Air manufacturing, move some of its Converse Footwear operations and integrate its materials supply chain work into its footwear and apparel supply chain teams.
“Collectively, these changes will result in a reduction of approximately 1,400 roles in global operations, with the majority in technology,” Alagirisamy wrote. “These reductions are very hard for the teammates directly affected and for the teams around them, too.”
A Nike spokesperson said the layoffs are about better positioning the organization for the current pace of sports and accelerating its growth. The layoffs affect employees across North America, Asia and Europe and represent less than 2% of the company’s total global head count.
“This is not a new direction,” Alagirisamy wrote. “It is the next phase of the work already underway.”
Affected employees will be notified beginning Thursday, Nike added.
CEO Elliott Hill has been working to turn Nike around after years of slumping sales. While Hill has made some initial progress, it’s come with some bumps in the road.
Nike announced 775 job cuts in January, primarily at its U.S.-based distribution centers, due to the company’s work in accelerating its use of automation. At the time, the company said the cuts are part of Nike’s goal to return to “long-term, profitable growth.”
Those layoffs came on top of a round of cuts last summer that affected less than 1% of Nike’s corporate staff as part of the company’s efforts to realign the business.
In its third fiscal quarter earnings report last month, the retailer warned that sales will continue to fall for the rest of the year, primarily led by an anticipated 20% decline in China during the current quarter.
— CNBC’s Jessica Golden contributed to this report.
A key reason for the layoffs is Meta’s increased spending in other areas of the company, including AI, for which it will this year spend $135bn (£100bn). This is roughly equal to the amount it has spent on AI in the previous three years combined, according to a person who viewed the memo.
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