Geojit Financial Services Recommends Subscription to Meesho Ltd IPO
Strong growth in Tier-2+ cities and zero-commission model make Meesho a long-term investment opportunity
Bengaluru, Dec 4: Geojit Financial Services has recommended a SUBSCRIBE rating for the upcoming Meesho Ltd IPO, citing the company’s robust growth and strong presence in Tier-2 and Tier-3 cities.
Founded in 2015 (formerly FashNear Technologies Pvt. Ltd.), Meesho is an Indian e-commerce platform that started as a social commerce app and has evolved into a leading online marketplace for affordable products. Operating on a zero commission model, the platform connects consumers, sellers, logistics partners, and content creators seamlessly.
The company has also launched Valmo, its tech driven, asset light logistics arm, designed to streamline deliveries, reduce costs, and improve operational efficiency.
India’s e-commerce market is currently valued at around ₹6 trillion GMV in FY25 and is expected to grow at a 20–25% CAGR, reaching ₹15–18 trillion by FY30. Meesho’s revenue expanded at a 28% CAGR between FY23 and FY25, rising to ₹9,390 crore, driven by higher order volumes and greater adoption of value added services by sellers.
Geojit highlighted that Meesho’s strong foothold in Tier-2+ cities, zero-commission approach, and focus on affordable products create a sustainable growth moat, making it an attractive opportunity for investors with a long-term horizon.
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