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

Meesho, the SoftBank-backed e-commerce platform, has approved a bonus issue worth ₹411.23 crore as it prepares for its Initial Public Offering (IPO). The board passed a resolution to issue 1,370,770,100 fully paid-up equity shares at ₹3 each in a 1:1 ratio, meaning existing shareholders will receive one bonus share for every share they hold. This non-dilutive step, utilizing the company's securities premium account, is a common strategy adopted by firms ahead of an IPO to boost liquidity and make shares more affordable post-listing. The IPO is expected to take place within the current financial year.