SoftBank-backed e-commerce platform Meesho launched a $603 million IPO in India.

Indian e-commerce company Meesho has begun accepting subscriptions for its initial public offering, aiming to raise around $603 million, as it joins one of the world's most active listing markets. The company has received support from Japan's Softbank Group and Dutch investment firm Prosus, becoming the latest company to take advantage of the hot IPO market in India. Due to confidence in India's stable economic growth and immense market potential, this year has seen a series of companies going public in the Indian market. Based in Bangalore, Meesho is seeking to raise a total of up to 54.21 billion rupees. This includes raising $130.3 million through a public stock offering, with an issue price range of 105 rupees to 111 rupees per share; as well as raising $472.6 million through a sale by existing shareholders. The offering is expected to end on Friday, with the stock set to start trading on the Mumbai Stock Exchange and the National Stock Exchange of India on December 10. In a statement, Meesho reported that it has secured 125 anchor investors, including prominent supporters such as SBI Funds, BlackRock, Fidelity, Franklin Templeton, and Morgan Stanley.