India, Oct. 24 -- After opting for the confidential IPO route for its $1 Bn public float in July, ecommerce major Meesho filed its updated draft red herring prospectus (UDRHP) a few days back. While the IPO would see the company raise fresh capital of INR 4,250 Cr, it will allow Meesho backers like Peak XV, Elevation Capital, Venture Highway, Y Combinator, among others, to partially exit the startup.

The offer for sale (OFS) component, which comprises a total of 17.6 Cr shares, will also see cofounders Vidit Aatrey and Sanjeev Barnwal (legal name Sanjeev Kumar) each sell 1.2 Cr shares.

A closer look at the 667-page long UDRHP shows that the cofounders (promoters) together hold 78.8 Cr equity shares or an 18.51% stake in the company. Of ...