Meesho Surges 46% On Debut; IPO Allottees Pocket Up To ₹97,000 On Listing Day

Meesho made a stellar debut on Wednesday, listing at a 46.4% premium over its IPO price and delivering significant early gains to investors.

Shares of Bengaluru-based e-commerce platform Meesho opened at Rs162.50 on the NSE, sharply higher than its issue price of Rs111 per share. On the BSE, the stock listed at Rs161.20, a 45.23% gain, confirming investor appetite for new-age tech-driven businesses.

Ahead of the listing, the grey market premium (GMP) hovered around Rs35-Rs36, indicating a likely pop of 31-32%. The actual debut exceeded those expectations.

Retail investors who received a single IPO lot of 135 shares earned an instant profit of Rs6,952.50. High-net-worth individuals (HNIs) allocated 14 lots or 1,890 shares saw gains of Rs97,335 on an investment of Rs2,09,790.

Meesho's IPO, which ran from December 3 to 5, was priced between Rs105 and Rs111 with a lot size of 134 shares. The company raised Rs5,421.20 crore, including a Rs4,250 crore fresh issue and an offer-for-sale (OFS) of up to 10.55 crore shares.

Investor demand was overwhelming. The public issue was subscribed 79.03 times, with qualified institutional buyers (QIBs) bidding 120.18 times, non-institutional investors (NIIs) 38.16 times, and retail investors 19.08 times. In total, Meesho attracted over Rs2.43 lakh crore in bids through more than 62.75 lakh applications.

Founded in 2015, Meesho operates a multi-sided platform linking consumers, sellers, logistics partners, and content creators. Known for enabling affordable e-commerce access, it also offers sellers a low-cost channel to scale their business.

Brokerages backed the IPO, and the offering was managed by Kotak Mahindra Capital, JP Morgan India, Morgan Stanley India, Axis Capital, and Citigroup Global Markets. Kfin Technologies served as registrar.

Narendra Solanki, Head of Fundamental Research at Anand Rathi Shares and Stock Brokers, recommended partial profit booking on listing.

"Hold the rest for the long term," he said, citing Meesho's prospects tied to marketing efficiency and cost discipline.