Meesho’s strong stock market debut has not only benefited investors but also turned co-founder Vidit Aatrey into a billionaire. On Tuesday, Meesho’s shares surged over 13% to reach an intraday high of ₹193.50, up from the previous close of ₹170.75. The stock has now gained nearly 75% since its issue price of ₹111, marking a remarkable rise since its IPO, which listed at a 46% premium.
The rise in share price has pushed Aatrey’s net worth past $1 billion. Holding approximately 47.25 crore shares, or an 11.1% stake in Meesho, his holdings are valued at around ₹9,128 crore at the 52-week high. Co-founder Sanjeev Barnwal, with 31.6 crore shares, now has a stake worth about ₹6,099 crore.
Founded in 2015 by Aatrey and Barnwal, Meesho has grown into a leading social commerce platform in India. It allows individuals and small businesses to sell products through resellers on social media and messaging apps. The company has drawn investments from major global investors, including Meta, SoftBank, Sequoia Capital, Y Combinator, Naspers, and Elevation Capital, supporting its expansion across the country.
Aatrey serves as Chairman, Managing Director, and CEO. An IIT Delhi graduate, he oversees the company’s strategy and direction. Prior to Meesho, he worked at ITC Ltd and InMobi, earning recognition in Forbes Asia’s 30 Under 30, Forbes India 30 Under 30, Entrepreneur Magazine’s 35 Under 35, and Fortune India’s 40 Under 40 lists.
Meesho’s journey began with earlier ventures like Fashnear, a hyperlocal fashion delivery app, and a Shopify-style storefront model, which failed to scale. The breakthrough came when the founders noticed homemakers in Gujarat and Uttar Pradesh running small businesses on WhatsApp. This inspired Meesho Supply, a managed marketplace for home-based sellers, later rebranded as Meesho, short for “Meri Shop,” aimed at helping small sellers, particularly women, grow online.
Choice Equities has given Meesho a BUY rating with a target price of ₹200, projecting an upside of about 81.7%. The brokerage values the company at 4x FY28E EV to revenue and expects revenue to grow at a CAGR of around 31% from FY25 to FY28E. Deeper market reach, improved logistics, and scaling of Valmo are expected to drive growth. EBITDA is projected to turn positive by FY27E, while the current valuation of 2.4x FY28E EV to revenue leaves room for a potential re-rating.
