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Meesho Shares Debut With 46% Premium Over IPO Price In Strong Market Opening

The listing of Meesho was scheduled for 10:00 AM and took place through the Special Pre-Open Session (SPOS), as per a notice issued by the BSE.

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Meesho made a bumper debut on the bourses on Wednesday, with its shares listing at a sharp premium over the issue price. On the NSE, the stock opened at Rs 162.50 per share, marking a gain of 46.40 per cent over the IPO price of Rs 111. On the BSE, the stock began trading at Rs 161.20 per share, up 45.23 per cent from the issue price.

Listing Through Special Pre-Open Session

The listing of Meesho was scheduled for 10:00 AM and took place through the Special Pre-Open Session (SPOS), as per a notice issued by the BSE.

IPO Allotment And Market Expectations

Experts had projected a strong listing for the stock compared to its offer price. The Meesho IPO allotment status was finalised on December 8.

Grey Market Premium Signals Ahead of Listing

Ahead of the debut, the grey market premium (GMP) for Meesho stood at Rs 43. Based on the upper end of the IPO price band and the prevailing GMP, the estimated listing price was indicated at Rs 154 per share, reflecting a premium of 38.74 per cent over the IPO price of Rs 111.

Subscription Response and Issue Timeline

The Meesho IPO opened for subscription on Wednesday and closed on December 5. The issue received robust demand, with the subscription standing at 79.03 times on the final day of bidding, according to BSE data.

Fundraising and Issue Structure

Through the public issue, the company raised Rs 5,421.20 crore via a combination of 38.29 crore fresh shares worth Rs 4,250.00 crore and an offer for sale of 10.55 crore shares amounting to Rs 1,171.20 crore. The price band for the IPO was fixed between Rs 105 and Rs 111 per equity share.

Issue Management

Kotak Mahindra Capital Co. served as the book-running lead manager for the IPO, while Kfin Technologies acted as the registrar to the issue.

About the author ABP Live Business

ABP Live Business is your daily window into India’s money matters, tracking stock market moves, gold and silver prices, auto industry shifts, global and domestic economic trends, and the fast-moving world of cryptocurrency, with sharp, reliable reporting that helps readers stay informed, invested, and ahead of the curve.

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