Meesho, Aequs, Vidya Wires: 3 companies to list today; check latest GMP before D-st debut

Shares of three companies, namely- Meesho, Aequs and Vidya Wires- are set to make their Dalal Street debut on Wednesday, December 10. All the three companies are likely to deliver muted to healthy listing gains on their stock market listing, if one goes by their latest grey market premium (GMP). These IPOs were open for bidding between December 03-05.

According the latest hints from unofficial market, Meesho is set to deliver the highest listing pop, followed by Aequs and Vidya Wires, respectively. Analysts tracking the IPO market also second the thought, but are largely positive on these all issues in the long-term. However, exact listing may vary during the special bidding session between 9-9.45 am.

Of the total Rs 6,643 crore raised by three companies, Meesho raised a total of Rs 5,421.20 crore by selling its shares in the range of Rs 105-111 apiece with a lot size of 135 equity shares. The issue was overall booked more than 79 times, attracting bids for more than Rs 2.43 lakh crore. It's GMP was seen at Rs 38 apeice, down from its peak around Rs 42-44 per share.

Meesho is likely to generate the strongest listing enthusiasm. However, investors should stay alert to the typical pattern seen in new-age tech listings. Sharp listing gains are often followed by profit-booking as early entrants exit, leading to volatility in the first few weeks, said Prasenjit Paul, Equity Research Analyst at Paul Asset & Fund Manager at 129 Wealth Fund.

Prashanth Tapse, Senior VP of Research at Mehta Equities expects Meesho to debut in the Rs 139–144 range, implying a 25-30 per cent premium to the issue price, supported by strong subscription momentum and healthy investor appetite for its asset-light, high-growth marketplace model.

Short-term participants may consider booking profits on listing, while investors with a higher risk appetite could look to hold the stock for 12–18 months, as Meesho offers exposure to one of India’s fastest-scaling, value-driven ecommerce franchises, he said.

Aequs raised Rs 981.21 crore via IPO, which was offered in the range of Rs 118-124 with a lot size of 120 shares. It saw bids over 101 times value nearly Rs 53,000 crore. Vidya Wires was sold for Rs 48-52 apeice with a lot size of 288 shares to raise Rs 300.01 crore. Their GMP stood at Rs 30 and Rs 4 signaling 24 and 8 per cent gains for investors, respectively.

“We expect Aequs to list in the Rs 154-160 range, translating into a 24–39 per cent premium over the issue price, supported by strong subscription traction and investor interest in one of India’s most advanced, fully integrated aerospace precision-manufacturing platforms," adds Tapse. "We recommend that allotted investors 'hold' for a long-term period."

For Aequs, Paul said that investors need to track margin consistency, order visibility and execution quality beyond listing day, as these factors largely determine the durability of returns in manufacturing-led companies. "Vidya Wires operates with thin margins, which naturally caps near-term upside. The listing may remain muted and investor expectations should be measured."