Softbank backed e-commerce firm Fashnear Technologies, which operates under the brand name Meesho, has been rechristened to Meesho Pvt. Ltd. before rolling out the process for its initial public offering, sources said on Thursday. The name was changed with effect from May 13.
"Meesho has officially changed its registered name from Fashnear Technologies Private Limited to Meesho Private Limited, as per the Certificate of Incorporation issued by the Ministry of Corporate Affairs," the source said.
The certificate of incorporation dated May 13 mentioned the changed name.
"The company was originally incorporated with the name Fashnear Technologies Pvt. Ltd.,' the certificate said.
One of the sources said the name change is important as the company will now run the entire process in the name of Meesho to avoid any confusion in the market.
"The name change, effective from May 13, 2025, aligns with Meesho's strategic focus on strengthening its brand identity as a leading e-commerce platform in India. The name change reflects Meesho's evolution to a comprehensive online marketplace. The company will now start working on the process for IPO," the source said, without disclosing timelines for the listing.
Meesho claims to be the first horizontal Indian e-commerce company to achieve profitability in FY24 and the first to generate positive free cash flow of Rs 197 crore for the full year.
The e-commerce has reported a significant narrowing of losses to Rs 53 crore while its revenue increased 33% to Rs 7,615 crore in FY24.
Meesho had posted a loss of Rs 1,569 crore, excluding ESOP cost, and revenue of the company was at Rs 5,735 crore in FY23.
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