Y Combinator to score 109X gain in Meesho IPO

Meesho’s upcoming IPO is turning out to be a windfall event for its earliest backers, with several investors poised to unlock multi-fold returns as the company is set to hit the public market.

Elevation Capital, Meesho’s largest early institutional shareholder, holds 57.9 crore shares, which are valued at Rs 6,161 crore at the upper end of the price band. Its OFS component is worth Rs 271 crore, Elevation clocks a stellar 36.5X return on its Meesho bet, one of the largest venture-scale outcomes for the firm.

Peak XV Partners (formerly Sequoia…