Bumper Debut! Meesho share price lists at solid 46% premium over IPO price

Bumper Debut! Meesho share price lists at solid 46% premium over IPO price

Meesho share price: Shares of Indian e-commerce platform Meesho Limited debuted at a solid 46% premium on the Indian stock market today, December 10, after drawing bumper bids for its initial share sale.

Meesho share price opened at ₹162.50 on the National Stock Exchange (NSE), as against the initial public offering (IPO) price of ₹111 — a premium of 46.40%. Meanwhile, on the BSE, Meesho share price got listed at a solid premium of 45.23% at ₹161.20.

The listing beat expectations as signaled by the latest grey market premium (GMP). Ahead of listing, Meesho IPO GMP today was ₹43, hinting at a listing gain of 38.7%.

Meesho IPO details

SoftBank-backed e-commerce company Meesho saw overwhelming investor interest as its ₹5,421-crore IPO was subscribed 79.02 times during the three-day bidding process between December 3 and December 5.

According to NSE data, the issue received bids for 21,96,29,80,575 shares against the 27,79,38,446 shares on offer.

Demand was led by strong institutional participation. The Qualified Institutional Buyers (QIBs) category was subscribed 120.18 times, while the Non-Institutional Investors (NII) segment saw 38.15 times subscription. The Retail Individual Investors (RII) portion was subscribed 19.04 times.

Ahead of the issue, Meesho raised ₹2,439 crore from anchor investors on Tuesday.

The IPO, priced in the range of ₹105–111 per share, values Meesho at ₹50,096 crore (about USD 5.6 billion) at the upper end. The offer consisted of a fresh issue worth ₹4,250 crore and an offer for sale (OFS) of 10.55 crore shares amounting to ₹1,171 crore, taking the total issue size to ₹5,421 crore.

Meesho plans to use the proceeds to strengthen its cloud infrastructure, expand marketing and branding efforts, pursue inorganic growth through acquisitions and strategic initiatives, and for general corporate purposes.

Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

Source: LiveMint
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