Meesho and Aequs are set to debut on the stock exchanges on Wednesday, December 10, following the confirmation of their share allocations on Monday. The upcoming listings of Meesho and Aequs have attracted significant investor interest due to robust demand seen during the three-day bidding period.
Both companies experienced strong subscription rates in their IPOs. Meesho’s IPO garnered an overall subscription of 81.76 times, with the retail category subscribing 19.89 times, qualified institutional buyers (QIB) excluding anchors at 123.34 times, and the non-institutional investor (NII) category at 39.85 times. This high subscription, especially in the QIB segment, demonstrates strong institutional confidence in the companies’ business models and growth potential.
Aequs saw even higher subscription numbers, with its IPO oversubscribed by 104.30 times overall. The retail portion was subscribed 81.03 times, QIB (excluding anchors) at 122.93 times, and the NII category at 83.61 times.
The grey market premium (GMP) is a key indicator used by market participants to gauge anticipated listing gains. Despite some recent declines in GMP for both Meesho and Aequs, the latest data suggests that listing profits are still expected. While not an official metric, GMP provides insights into prevailing expectations among traders and investors.
The most recent GMP for Aequs IPO stands at 34 as of December 8, 5:01 PM. With a price band of 124, Aequs’ estimated listing price is 158 per share, implying an anticipated gain of 27.42% per share at the time of listing.
On the other hand, Meesho’s latest recorded GMP is 39 as of December 8, 4:55 PM. With a price band of 111 per share, the estimated listing price for Meesho is 150, projecting a gain of 35.14% per share for investors.
Despite the recent GMP fluctuations, investors could still potentially realize listing profits if shares align with grey market expectations. These projections are closely monitored before the official listing and can impact initial investor sentiment.