India, April 2 -- In a strategic move ahead of Meesho's highly-anticipated initial public offering (IPO), its cofounders Vidit Aatrey and Sanjeev Barnwal have exercised a significant number of employee stock options.

Meesho's board passed a resolution on March 31 to allot 20,65,211 equity shares at a face value of INR 1 each to Aatrey and 6,59,323 shares to Barnwal, as per its regulatory filings accessed by Inc42.

The cofounders were allotted the stock options under Fashnear Technologies Private Limited Employee Stock Option Plan, 2024 (ESOP 2024 Plan). Upon the completion of the vesting period, they exercised their right to convert them into equity shares.

Responding to Inc42's queries on the development, Meesho said that the shares a...