Meesho IPO allotment: Check the application status, allotment odds, latest GMP & more

Meesho is likely to finalize the basis of allotment of its shares on Monday, December 08. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Tuesday, December 09. The e-commerce marketplace saw a solid response from the investors during the three-day bidding.

The IPO of Meesho was open for bidding between December 03 and December 05. It had offered its shares in the price band of Rs 105-111 per share with a lot size of 134 shares. The company raised a total of Rs 5,421.20 crore via IPO, which included a fresh shares sale of 38,28,82,882 shares worth Rs 4,250 crore and offer-for-sale (OFS) up to 10,55,13,839 shares worth 1,171.20 crore.

The issue was overall subscribed a total of 79.03 times, attracting bids over Rs 2,43,830 crore through over 62.75 lakh applications. The portion for qualified-institutional bidders (QIBs) was subscribed 120.18 times, while the non-institutional investors (NIIs) quota was booked 38.16 times. The allocation for retail investors was subscribed 19.08 times during the bidding process.

The grey market premium (GMP) of Meesho has seen a mild correction despite getting strong bids led by muted market sentiments. Last heard, it was commanding a premium of Rs 42-44 in the unofficial market, suggesting a listing pop of 38-40 per cent for the investors. The GMP stood around Rs 46-48 during the bidding period.

Here is the tentative odds allotment matrix in Meesho IPO for the investors:

• Big HNI category: 2 investors out of 17 investors will get 1,890 shares (Probability: 11.76 per cent)
• Small HNI category: 2 investor out of 61 investors will get 1,890 shares (Probability: 3.27 per cent)
• Retail category: 1 investor out of 15 investors will get 135 shares. (Probability: 6.67 per cent)
   

Incorporated in 2015, Bengaluru-based Meesho is a multi-sided technology platform driving e-commerce in India by connecting four key stakeholders- consumers, sellers, logistics partners, and content creators.It operates its e-commerce marketplace, enabling consumers to access a wide range of affordable products while offering sellers a low-cost platform to grow their businesses.

Kotak Mahindra Capital Company, JP Morgan India, Morgan Stanley India, Axis Capital and Citigroup Global Markets India are the book running lead managers for the Meesho IPO and Kfin Technologies is the registrar of the issue. Refund initiations and credit of shares is likely to be done by Tuesday, December 09. Shares of the company shall be listed on both BSE and NSE on December 10.

Investors, who had bid for the issue of Meesho, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1. Visit https://www.bseindia.com/investors/appli_check.aspx
2. Under the issue type, click Equity
3. Under the issue name, select Meesho Limited in the dropbox
4. Write the application number
5. Add the PAN card ID
6. Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1. Go to the web portal of KFin Technologies Limited
2. Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3. You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4. In application type, select between ASBA and non-ASBA
5. Enter the details of the mode you selected in Step 2
6. For security purposes, fill the captcha accurately
7. Hit submit.