Meesho, one of India’s fastest-growing e-commerce platforms, is gearing up for a high-profile listing, and its early backers are set to reap enormous gains when the company hits the bourses. According to the details shared in the offering documents, Meesho’s upcoming IPO will unlock multi-bagger returns for its earliest investors, marking one of the most lucrative exits in India’s startup ecosystem this year.

The company’s largest institutional shareholders Elevation Capital, Peak XV Partners, Fidelity, and WestBridge Capital are expected to offload a portion of their stakes during the Offer for Sale (OFS). Elevation Capital alone stands to realise nearly 36× returns, while Peak XV is expected to clock 26× gains. These exceptional multipliers highlight how early conviction in Meesho’s asset-light, reseller-driven marketplace model has paid off dramatically.

Founders Vidit Aatrey and Sanjeev Barnwal are also likely to benefit significantly from the listing. Based on the draft numbers, each co-founder may earn around ₹708 crore from their respective stake dilution in the OFS, marking one of the biggest founder liquidity events in the Indian startup space this year.

The expected IPO comes on the back of Meesho’s notable financial turnaround and improving unit economics. The company has grown sharply across Tier-2 and Tier-3 cities, attracting nearly 60 lakh sellers, expanding its logistics network, and evolving from a reseller-led operation into a full-fledged marketplace competing with larger players.

Market analysts note that the block of shares being offloaded by early investors signals confidence that the listing will be well-received. Meesho’s rising GMV, deep penetration in value-focused markets, and capital-efficient growth have made it an attractive candidate for public markets at a time when tech IPOs are slowly regaining momentum in India.

While the final IPO pricing will determine the ultimate scale of returns, the trajectory so far underscores a blockbuster wealth-creation moment for Meesho’s stakeholders. As India’s digital commerce landscape continues to evolve, Meesho’s listing may well set the tone for the next wave of startup debuts on the stock exchanges.