SoftBank stays in as Meesho $606M IPO becomes India’s first major e-commerce listing

Meesho, an Indian e-commerce rival to Amazon and Walmart-owned Flipkart, is set to launch a roughly $606 million IPO marked by token sell-downs from early backers and no sales from big names such as SoftBank and Prosus, signalling investor conviction in India’s booming online retail market at a time when tech shareholders globally have been cashing out at listings.

The ten-year-old startup plans to price its shares at ₹105–111 each, raising ₹42.50 billion (about $475 million) in fresh capital and a small remainder through secondary sales,…