India, June 2 -- SoftBank-backed Meesho's shareholders have approved a proposal to issue 411.4 Cr bonus shares ahead of the ecommerce major filing its draft red herring prospectus (DRHP) with markets regulator SEBI.

As per the company's MCA filings accessed by Inc42, the members, during an extraordinary general meeting held on May 31, approved the proposal to issue the bonus shares of INR 1 each to equity shareholders in the ratio 47:1.

". the consent of the members be and is hereby accorded to the board of directors of the company for the purpose of issue of 411.4 Cr bonus equity shares of INR 1 each credited as fully paid up shares to the holders of the existing equity shares of the company," the company said in the regulatory filing....