Meesho shares in focus as Citi initiates coverage with Buy rating. Here's why

Citi initiated coverage on Meesho with a Buy rating, citing its strong position in India's e-commerce market with over 264 million annual transacting users (up 33% YoY) and more than 950,000 sellers (up 87% YoY). The brokerage projects a 27% CAGR between FY26 and FY29, with NMV reaching Rs 85,400 crore in FY29 and adjusted EBITDA of Rs 1,830 crore, expanding to Rs 3,570 crore in FY30. Meesho's Q4FY26 consolidated loss narrowed 88% YoY to Rs 166 crore while revenue rose 47% to Rs 3,531 crore, though the share price is down 13% over the past month.