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What is the story about?
The initial public offering of Meesho Ltd., which opened on December 3, continued to draw strong investor interest and was subscribed 16.47 times by midday on the final day of bidding.
As of 12:30 pm on Friday, December 5, the issue had received bids for 457.77 crore shares against 27.79 crore shares on offer, according to NSE data.
Demand was strongest from non institutional investors at 23.77 times, followed by retail investors at 13.73 times and qualified institutional buyers at 13.68 times.
The price band for the IPO is ₹105 to ₹111 per share. In the grey market, Meesho's shares are trading at a premium of up to 45%, though these unofficial indicators tend to be volatile and are not reliable predictors of listing performance.
The public issue includes a fresh issue of ₹4,250 crore and an offer for sale of ₹1,171.2 crore by existing shareholders.
At the upper end of the price band, Meesho's market capitalisation would be close to ₹50,000 crore, while promoter holding will fall from 19.08% to 16.76%.
Ahead of the IPO, the company raised ₹2,439.5 crore from anchor investors, who were allotted 21.98 crore shares at ₹111 each.
Domestic mutual funds, including SBI, Aditya Birla Sun Life, Axis and HSBC, took up 9.37 crore shares, accounting for 43% of the anchor book. Global investors such as the Government of Singapore, Tiger Global, BlackRock, Fidelity and Morgan Stanley also participated.
Founded in 2015, Meesho operates a multi-sided technology platform connecting consumers, sellers, logistics partners and content creators. Its primary marketplace segment earns revenue through seller services, including order fulfilment, advertising and insights.
Kotak Capital, JPMorgan, Morgan Stanley, Axis Capital and Citigroup are the book-running lead managers.
Share allotment will take place on Monday, December 8, with the listing scheduled for December 10.
As of 12:30 pm on Friday, December 5, the issue had received bids for 457.77 crore shares against 27.79 crore shares on offer, according to NSE data.
Demand was strongest from non institutional investors at 23.77 times, followed by retail investors at 13.73 times and qualified institutional buyers at 13.68 times.
The price band for the IPO is ₹105 to ₹111 per share. In the grey market, Meesho's shares are trading at a premium of up to 45%, though these unofficial indicators tend to be volatile and are not reliable predictors of listing performance.
The public issue includes a fresh issue of ₹4,250 crore and an offer for sale of ₹1,171.2 crore by existing shareholders.
At the upper end of the price band, Meesho's market capitalisation would be close to ₹50,000 crore, while promoter holding will fall from 19.08% to 16.76%.
Ahead of the IPO, the company raised ₹2,439.5 crore from anchor investors, who were allotted 21.98 crore shares at ₹111 each.
Domestic mutual funds, including SBI, Aditya Birla Sun Life, Axis and HSBC, took up 9.37 crore shares, accounting for 43% of the anchor book. Global investors such as the Government of Singapore, Tiger Global, BlackRock, Fidelity and Morgan Stanley also participated.
Founded in 2015, Meesho operates a multi-sided technology platform connecting consumers, sellers, logistics partners and content creators. Its primary marketplace segment earns revenue through seller services, including order fulfilment, advertising and insights.
Kotak Capital, JPMorgan, Morgan Stanley, Axis Capital and Citigroup are the book-running lead managers.
Share allotment will take place on Monday, December 8, with the listing scheduled for December 10.
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