[Update] Meesho IPO: Issue Subscribed 2.35X On Day 1

Meesho IPO Subscribed Over 50%, Retail Portion Fully Booked

SUMMARY

Retail investors showed the highest interest in the IPO, with the portion reserved for them getting oversubscribed 3.86X

The QIB portion was also oversubscribed 2.12X, getting bids for 31.9 Cr shares as against 15 Cr shares reserved

Meesho’s IPO comprises a fresh issue of INR 5,421 Cr and an OFS component of 10.6 Cr shares

Updated | December 03, 18:20 IST

The public issue of Meesho saw strong investor interest on the first day of bidding and was oversubscribed 2.35X. It received bids for 65.4 Cr shares against 27.8 Cr shares on offer.

Retail investors showed the highest interest in the IPO, with the portion reserved for them getting oversubscribed 3.86X. They placed bids for 19.7 Cr shares as against 5.1 Cr shares reserved for them.

The NII portion was oversubscribed 1.80X, getting bids for 13.8 Cr shares against 7.7 Cr shares on offer. Within this, investors with a bidding amount of over INR 10 Lakh applied for 7.9 Cr shares, while those bidding between INR 2 Lakh to INR 10 Lakh applied for 5.9 Cr shares.

Meanwhile, after a slow start, the QIB portion was also oversubscribed 2.12X. They placed bids for 31.9 Cr shares as against 15 Cr shares reserved for them. Under the QIB section, foreign institutional investors placed bids for 56.5 Lakh shares.

Original | December 03, 12:52 IST

Ecommerce major Meesho’s IPO got off to a strong start, with retail investors’ portions fully subscribed within a few hours.

The issue was subscribed 52% as of 12:05 IST, with investors bidding for 14.56 Cr shares against 27.79 Cr shares on offer.

Retail investors placed bids for 9.92 Cr shares against 5.1 Cr shares reserved for them, translating to 1.95X subscription.

Non-institutional investors (NIIs) bid for 4.6 Cr shares against 7.6 Cr shares on offer. The portion reserved for them was subscribed 60%.

However, the response of qualified institutional buyers (QIBs) was muted on the first day, as they placed bids for a mere 3.2 Lakh shares against 15.03 Cr shares reserved.

Following its public issue, Meesho will become the first horizontal ecommerce player to list on the exchanges. Its IPO comprises a fresh issue of INR 5,421 Cr and an OFS component of 10.6 Cr shares. It has set a price band of INR 105-111 for the issue, targeting a valuation of INR 50,000 Cr (about $5.5Bn) at the upper end of the spectrum.

The ecommerce major raised INR 2,439.5 Cr from anchor investors yesterday.

Meesho claims to be India’s largest ecommerce platform by customer base and order volume. The company operates on an asset-light and zero-commission model. CEO and cofounder Vidit Aatrey told Inc42 said that the company will continue to focus on scaling advertising revenue and has no plans to start charging commissions to sellers.

On the financial front, Meesho’s consolidated net loss narrowed 27% to INR 701 Cr in the first half (H1) of the fiscal year 2025-26 (FY26) from INR 2,513 Cr loss in the year-ago period. Revenue from operations grew 29% to INR 5,578 Cr from INR 4,311 Cr in H1 FY25.

With a proposed valuation of INR 50,000 Cr, Meesho is going public at a time when liquidity is shifting, big IPOs are crowding the market and investors are gradually warming up to fast-growing, loss-making internet companies.