Plus · Ecommerce

Reading the Meesho DRHP carefully, before the analysts do

The tier-three GMV mix, the contribution margin walk, and the one chart that explains the IPO timing.

BK

Bhumika Khatri

Jun 27, 2026 · 11 min read

filed its DRHP this week with a target issue size of ₹4,250 Cr. The most interesting page is not the revenue line, it is the geographic GMV split.

Tier-three cities now contribute more than half of GMV. That number was 38 percent at the same point last year. The acceleration explains the IPO timing.

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  • Inc42 News
  • DRHP
  • DataLabs
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