Meesho IPO Day 3: Issue subscribed over 79 times on final day; check allotment date & latest GMP

The initial public offering (IPO) of Meesho Ltd closed with strong investor participation, recording a subscription of 79.02 times by 5:39 pm on Friday, the final day of bidding. The offer, which opened on December 3, attracted significant demand across investor categories.

According to exchange data, the IPO received bids for 21,96,29,79,765 shares against the 27,79,38,446 shares on offer.

The qualified institutional buyers (QIB) category led the response with a subscription of 120.18 times. The non-institutional investor (NII) segment saw a subscription of 38.15 times, while the retail portion was subscribed 19.04 times.

The price band for the IPO was set at Rs 105–111 per share. In the grey market, the stock continued to trade at a premium of around 43.24 per cent, indicating sustained investor interest.

The public issue comprised a fresh issue of Rs 4,250 crore and an offer for sale (OFS) of Rs 1,171.2 crore by existing shareholders. At the upper end of the price band, Meesho’s estimated market capitalisation (m-cap) stands near Rs 50,000 crore, with promoter shareholding expected to decline from 19.08 per cent to 16.76 per cent post-listing.

Ahead of the IPO, Meesho raised Rs 2,439.5 crore from anchor investors, allotting 21.98 crore shares at Rs 111 apiece. Domestic mutual funds, including SBI, Aditya Birla Sun Life, Axis and HSBC, subscribed to 9.37 crore shares, accounting for 43 per cent of the anchor allocation. Global investors such as the Government of Singapore, Tiger Global, BlackRock, Fidelity and Morgan Stanley also participated.

The IPO is managed by Kotak Capital, JPMorgan, Morgan Stanley, Axis Capital and Citigroup as book-running lead managers.

Share allotments are expected on Monday, December 8, while the stock is scheduled to list on December 10.