India, March 24 -- Stepping up its efforts to go public later in the year, ecommerce major Meesho is reportedly planning to raise $1 Bn through an initial public offering (IPO).

Source told Moneycontrol that "discussions are on and the company has already picked Morgan Stanley, Kotak Mahindra Capital and Citi as advisers for its IPO."

Meanwhile, another source told the publication that while Meesho is aiming to raise $1 Bn, bankers have pitched a valuation of $10 Bn.

"It is likely that even JP Morgan will be added to the IPO syndicate if talks materialise," the source added.

Inc42 has reached out to Meesho for comments on the development. The story will be updated based on the response.

Sources also confirmed that Meesho will be fili...