SoftBank-backed e-commerce platform Meesho has approved the issuance of 411.4 Cr bonus shares in a 47:1 ratio, ahead of filing its draft red herring prospectus (DRHP) with SEBI. The proposal was cleared at an EGM on May 31, as per regulatory filings. Each bonus share is valued at ₹1, significantly raising Meesho's paid-up share capital from ₹8.7 Cr to ₹420.1 Cr. The move is seen as a strategic step in preparation for Meesho’s upcoming IPO plans.