Meesho IPO Allotment Date Today: GMP Drops, Step-By-Step Guide To Check Status Online

Meesho IPO Allotment Date Today: GMP Drops, Step-By-Step Guide To Check Status Online

Meesho IPO Allotment Today: The allotment of Meesho IPO will be finalised today, November 08. Those who have applied for the issue will be notified through communication if they are being allotted the unlisted shares. Subscribers are advised to keep check the issue's registrar website or broker for allotment, which typically happens late night.

The listing of Meesho's shares on the BSE and NSE will likely take place on December 10.

On the final day of the bidding, Meesho IPO was oversubscribed by 79 times, with retail investors at 19 times and qualified institutional investors at 120 times.

According to market observers, unlisted shares of Meesho Ltd are currently trading at Rs 153 apiece in the grey market, against the upper IPO price of Rs 111. It means a grey market premium (GMP) of 39.24%, indicating a strong listing for the company.

The GMP is based on market sentiments and keeps changing. ‘Grey market premium' indicates investors' readiness to pay more than the issue price.

The Meesho IPO allotment is expected to be finalised on Monday, December 8.

The allotment status can be checked online by following these steps:

Via Registrar Kfin Technologies

1) Visit registrar Kfin Technologies' portal – https://ipostatus.kfintech.com/.

2) Under ‘Select IPO', select ‘Meesho Ltd' from the drop box.

3) Enter your application number, demat account, or permanent account number (PAN).

5) Then, click on the ‘Submit' button.

Your share application status will appear on your screen.

Via the BSE

1) Go to the official BSE website via the URL — https://www.bseindia.com/investors/appli_check.aspx.

2) Under ‘Issue Type', select ‘Equity'.

3) Under ‘Issue Name', select ‘Meesho Ltd' in the drop box.

4) Enter your application number, or the Permanent Account Number (PAN). Those who want to check their allotment status via PAN can select the ‘Permanent Account Number' option.

5) Then, click on the ‘I am not a robot' to verify yourself and hit the ‘Search' option.

Your share application status will appear on your screen.

The IPO has a fresh issue of shares worth Rs 4,250 crore, along with an Offer For Sale (OFS) of 10.55 crore shares valued at Rs 1,171 crore at the upper band, taking the total issue size to Rs 5,421 crore.

Meesho plans to utilise proceeds for investment in cloud infrastructure, marketing and brand initiatives, as well as funding inorganic growth through acquisitions and other strategic initiatives, and general corporate purposes.

Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

Source: News18
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