Description

BSE circular detailing the listing and lock-in arrangements for 4,51,31,31,000 equity shares of Meesho Limited following its IPO, including shares under lock-in for promoters, anchor investors, AIFs, and ESOP holders.

Summary

BSE has published the lock-in details for Meesho Limited’s equity shares following its IPO listing. The circular outlines lock-in arrangements for 4,51,31,31,000 total equity shares across various categories including promoter shares, anchor investor allocations, AIF holdings, ESOP shares, and public issue shares. The company, formerly known as Fashnear Technologies Private Limited, has its registered office in Bengaluru, Karnataka.

Key Points

  • Total equity shares listed: 4,51,31,31,000 shares
  • Promoter shares (92,95,25,329 shares) locked-in until June 9, 2027
  • Two tranches of anchor investor shares locked-in: 10,98,89,227 shares until January 6, 2026 (30 days) and 10,98,89,297 shares until March 7, 2026 (90 days)
  • AIF Category II holdings (1,19,42,406 shares) not under lock-in as per SEBI regulations
  • ESOP shares (2,13,70,516 shares) held by eligible employees not under lock-in
  • Public IPO shares (3,06,18,96,028 shares and 16,31,04,358 shares) not under lock-in
  • Meesho Inc. and nominee holdings (4,06,99,73,450 shares) locked-in with varying dates: some until December 8, 2025 and others until June 9, 2026
  • All shares held in dematerialized form
  • 4,06,99,73,450 equity shares previously held by Meesho Inc. (Transferor Company) were extinguished pursuant to merger

Regulatory Changes

No new regulatory changes introduced. The circular implements existing SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, specifically Regulation 17(c) regarding AIF lock-in exemptions.

Compliance Requirements

  • Lock-in restrictions must be maintained as per specified dates for each category
  • Company Secretary Rahul Bhardwaj (ACS41649) responsible for compliance oversight
  • Detailed lock-in information provided on pages 186-191 of the Company’s Prospectus dated December 5, 2025
  • Corporate restructuring involving share extinguishment completed in compliance with regulatory and depository requirements
  • Distinctive numbers 1-4,06,99,73,450 cancelled following merger-related share extinguishment

Important Dates

  • Prospectus Date: December 5, 2025
  • December 8, 2025: Lock-in expiry for certain Meesho Inc. shares (3,06,18,96,028 shares)
  • January 6, 2026: 30-day anchor investor lock-in expiry (10,98,89,227 shares)
  • March 7, 2026: 90-day anchor investor lock-in expiry (10,98,89,297 shares)
  • June 9, 2026: Lock-in expiry for specific shareholder category (2,13,70,516 shares)
  • June 9, 2027: Promoter lock-in expiry (92,95,25,329 shares)

Impact Assessment

Market Impact: High - This is a major IPO listing with over 451 crore shares entering the market. The staggered lock-in periods will affect liquidity and float availability over the next 18+ months. The immediate free float includes public issue shares, AIF holdings, and ESOP shares totaling approximately 3.3 crore shares.

Investor Impact: Significant for anchor investors who must maintain positions through their respective lock-in periods. The 30-day and 90-day anchor lock-ins will see substantial share releases in January and March 2026. Long-term investors should note the promoter lock-in extending until June 2027.

Operational Impact: The company has completed a complex corporate restructuring involving merger and share extinguishment of 40+ crore shares previously held by parent company Meesho Inc., demonstrating successful compliance with regulatory requirements for listing.

Impact Justification

Major IPO listing of Meesho Limited with detailed lock-in schedules affecting 451+ crore equity shares across multiple investor categories