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

EntrackrEntrackr · 2m ago
Meesho debuts on stock exchanges at 46% premium to issue price
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.

Fractal sets Rs 857–900 IPO price band, targets $1.6 Bn valuation

EntrackrEntrackr · 15d ago
Fractal sets Rs 857–900 IPO price band, targets $1.6 Bn valuation
Medial

Fractal sets Rs 857–900 IPO price band, targets $1.6 Bn valuation AI solutions provider Fractal Analytics has set a price band of Rs 857–900 per equity share for its upcoming initial public offering (IPO), a day after filing its red herring prospectus (RHP) with the capital markets regulator. According to the RHP, the public issue will open for subscription on February 9 and close on February 11, while the anchor book is scheduled to open on February 6. At the upper end of the price band, Fractal’s valuation is expected to be around $1.6 billion. As reported earlier by Entrackr, Fractal trimmed its IPO size by 42% compared to what it had proposed in its draft red herring prospectus (DRHP). The IPO now comprises a mix of a fresh issue and an offer for sale (OFS) by existing shareholders. According to the RHP, the proceeds from the fresh issue are to be used for debt repayment, investments in technology and strategic initiatives, and general corporate purposes. Founded in 2000 by Srikanth Velamakanni and Pranay Agrawal, Fractal supports global enterprises across consumer goods and retail, technology, media and telecom, healthcare and life sciences, and BFSI. It counts Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta, and Tesla as clients. As per the RHP, TPG Fett is the largest external shareholder with a 25.49% stake, followed by Quinag Bidco, owned by Apax Partners, which holds 18.64% of the company. GLM Family Trust owns 15.59% of Fractal. Axis Capital, Citigroup, Morgan Stanley, and Kotak Mahindra Capital Company are the book-running lead managers to the issue. Fractal’s shares are proposed to be listed on both the BSE and NSE. On the financial side, Fractal reported consolidated revenue of Rs 2,765 crore in FY25 from Rs 2,196 crore in FY24. Its net profit stood at Rs 220.6 crore in FY25, compared to a loss of Rs 54.7 crore in FY24. For the first half of FY26, it recorded revenue of Rs 1,559 crore and a profit of Rs 71 crore.

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