Meesho IPO listing tomorrow: Here’s what GMP, subscription status, expert hint ahead of debut
Meesho IPO listing is set for December 10, with shares credited to demat accounts today. The IPO attracted strong interest, especially from institutional buyers, and was priced between ₹105 and ₹111. The expected listing price is ₹146, reflecting a premium in the grey market.
Meesho IPO listing is set for December 10, with shares credited to demat accounts today.
Meesho IPO listing date has been fixed as Wednesday, December 9, following the successful allotment yesterday. Meesho IPO allotment was finalised on Monday, December 8. Those who have been allocated shares will receive them in their demat accounts today, December 9. The process of refunding those who have not yet received their shares will likewise be finished today.
The e-commerce firm launched its IPO last week on December 3, with the offer concluding on December 5. By the conclusion of the bidding period, the offering received a healthy response, particularly from qualified institutional buyers (QIBs) whose portion was subscribed 120.18 times, followed by non-institutional investors (NIIs) at 38.16 times. Retail investors showed a subscription rate of 19.08 times. Notably, on the third day of the IPO, the Meesho IPO subscription status stood at 79.03 times, as reported by the BSE.
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, stated that the firm has built strong leadership in key areas such as Fashion, Home & Kitchen, and Beauty & Personal Care, and its emphasis on unit economics and scale sets it up for sustainable long-term growth.
According to Tapse, at the upper price of ₹111, the IPO gives the company a valuation of around ₹50,096 crore, which is appropriately priced in comparison to other listed new-age technology companies, taking into account its growth path and enhanced financial profile.
Meesho IPO price band was fixed in the range of ₹105 to ₹111 per equity share of the face value of Re 1. Meesho IPO reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIBs), not more than 15% for non-institutional Investors (NIIs), and not more than 10% of the offer is reserved for retail investors.
Ahead of the listing, Meesho IPO GMP today stands at ₹35. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Meesho is indicated at ₹146 apiece, which is 31.53% higher than the IPO price of ₹111.
According to the recent grey market trend over the last 13 sessions, the present GMP ( ₹35) is indicating a downward movement. The minimum GMP recorded is ₹33.00, while the maximum GMP reached is ₹49.50, as per analysts.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
The Meesho IPO included a new share issue amounting to ₹4,250 crore, alongside an Offer For Sale (OFS) of 10.55 crore shares priced at ₹1,171 crore at the higher end, resulting in a combined total issue size of ₹5,421 crore.
Meesho intends to use the funds for investments in cloud infrastructure, marketing and branding efforts, as well as to support growth through acquisitions and other strategic initiatives, in addition to general corporate purposes.
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Meesho IPO
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