New Delhi: 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 (IPO), as per news reports.
The name was changed with effect from May 13.
"The company was originally incorporated with the name Fashnear Technologies Private Limited," the certificate said.
Quoting sources, news reports stated that the name change is important as the company will now run the entire process under the name 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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