Shares of Indian e-commerce platform Meesho Limited made a strong debut on the Indian stock market today, December 10, listing at a 46% premium over the IPO price. On the National Stock Exchange (NSE), Meesho shares opened at Rs 162.50, against the IPO price of Rs 111, marking a gain of 46.40%. Meanwhile, on the BSE, shares listed at Rs 161.20, reflecting a premium of 45.23%.
The listing exceeded expectations indicated by the grey market premium (GMP). Ahead of the listing, the Meesho IPO GMP stood at Rs 43, hinting at a potential listing gain of 38.7%.
Strong Investor Response
Meesho’s IPO drew overwhelming interest from investors. The Rs 5,421-crore IPO was subscribed 79.02 times during the three-day bidding period between December 3 and 5.
According to NSE data, bids were received for 21,96,29,80,575 shares, compared with 27,79,38,446 shares on offer. The demand was particularly strong among institutional investors:
- Qualified Institutional Buyers (QIBs): subscribed 120.18 times
- Non-Institutional Investors (NII): subscribed 38.15 times
- Retail Individual Investors (RII): subscribed 19.04 times
Before the IPO, Meesho raised Rs 2,439 crore from anchor investors, reflecting strong confidence in the company’s growth potential.
IPO Details and Valuation
The IPO was priced in the range of Rs 105–111 per share, valuing Meesho at Rs 50,096 crore (around USD 5.6 billion) at the upper end. The issue included a fresh issue worth Rs 4,250 crore and an offer for sale (OFS) of 10.55 crore shares amounting to Rs 1,171 crore, bringing the total issue size to Rs 5,421 crore.
Plans for Funds
Meesho plans to use the IPO proceeds to strengthen its cloud infrastructure, expand marketing and branding, and pursue inorganic growth through acquisitions and strategic initiatives. Part of the funds will also be used for general corporate purposes.
The strong debut of Meesho shares highlights investor confidence in India’s e-commerce growth story and the company’s future potential in a competitive market.
