Meesho to issue 411.4 crore bonus shares to existing shareholders ahead of IPO

Prosus-backed hypervalue ecommerce platform Meesho has approved a proposal to issue 411.4 crore bonus shares to its existing shareholders ahead of its public debut filing. The Vidit Aatrey-led company approved a share issue in the ratio of 47.2509 new equity shares for every existing share held. The total amount to be capitalised for the issue is Rs 411 crore ($49.3 million), based on audited financials for the year ended March 31, 2024, the company said in a shareholder resolution. Bonus shares will be issued at a face value of Rs 1 each and will rank pari passu (equally) with existing fully paid-up equity shares, stated filings sourced from MCA.