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Meesho debuts on stock exchanges at 46% premium to issue price

Entrackr · 8h ago

Medial

E-commerce marketplace Meesho made a strong debut on the public markets on Wednesday, listing at a 46% premium over its issue price of Rs 111. The Bengaluru-based firm opened at Rs 162.5 per share on NSE, a 46% jump over its issue price of Rs 111. On the Bombay Stock Exchange, Meesho opened at Rs 161.2, marking a 45.2% premium to its issue price. Meesho’s Rs 5,421 crore IPO comprised a Rs 4,250 crore fresh issue and an OFS of Rs 1,171 crore, allowing early backers partial exits. Investors such as Elevation Capital, Peak XV Partners, Y Combinator, Venture Highway and others will partially exit through the offer for sale. The issue was pitched at a price band of Rs 105–111 and aimed at a valuation in the $5.6 billion range. Ahead of the public subscription, the Vidit Aatrey-led company mobilised Rs 2,440 crore from 125 anchor investors, who were allotted 21.98 crore shares at Rs 111 per share. The anchor book saw participation from global heavyweights such as BlackRock, Fidelity, and domestic mutual funds, giving the IPO a strong institutional signal before opening to retail investors. According to exchange data, Qualified Institutional Buyers (QIBs) were subscribed over 120 times, followed by Non-Institutional Investors (NIIs) at 38.14 times. The retail investor quota also saw strong traction, with subscriptions reaching 19 times. With fresh capital in the bank, Meesho is expected to double down on logistics optimisation, seller ecosystem expansion and sustainable margin improvement. During the last fiscal year, the company posted revenue of Rs 9,390 crore, while its losses before exceptional items and tax stood at Rs 108 crore in the same period. In the first half of the ongoing fiscal year (H1 FY26), it reported revenue of Rs 5,577 crore. Meesho’s debut is among the strongest tech listings in recent years, reaffirming investor appetite for scaled internet businesses with improving financial discipline.