Meesho IPO unlocks major gains for Elevation, Peak XV, others; founders’ stake valued at Rs 8,750 crore

Early investors in Meesho, including Elevation Capital and Peak XV Partners, are sitting on significant paper gains after the value-focused ecommerce company announced a price band of Rs 103-111 per share for its upcoming initial public offering (IPO), valuing it at Rs 51,535 crore ($5.74 billion).

Cofounders Vidit Aatrey and Sanjeev Barnwal, who have been tagged as Meesho’s promoters, together hold an 18.5% stake– worth Rs 8,749 crore at the upper end of the price band. Both are selling 16 million shares each, or a 0.3% stake, and are expected to…