India, June 24 -- As it gears up for its upcoming IPO, ecommerce major Meesho has rejigged its board, with only two of its four top institutional investors retaining a seat on the board.

The board of Meesho's India entity, Meesho Pvt Ltd, comprises eight members, sources told Inc42.

The board is chaired by cofounder Vidit Aatrey, who serves as MD and CEO of the ecommerce major. Cofounder Sanjeev Barnwal, who serves as the CTO of Meesho, is a whole-time director on its board.

Two of Meesho's largest institutional investors Peak XV Partners and Elevation Capital serve on the board as non-executive and non-independent directors. While Peak XV will be represented by MD Mohit Bhatnagar, co-managing partner Mukul Arora will be Elevation Capi...