Meesho is gearing up for its stock market debut today following the finalization of share allotments earlier this week. The much-anticipated listing has attracted significant investor interest, with the public offering receiving strong demand across all segments during the three-day bidding period.
The Meesho IPO witnessed an overall subscription of 81.76 times. Retail investors subscribed 19.89 times, while qualified institutional buyers (excluding anchor investors) subscribed 123.34 times, and non-institutional investors subscribed 39.85 times.
Investors who applied for the IPO can check their share allotment status on the KFin Technologies website by selecting Meesho from the dropdown menu and entering their application number, PAN, or demat details. Alternatively, they can also verify the allotment status on the Bombay Stock Exchange website by selecting equity as the issue type and providing the necessary information.
As Meesho gears up for its listing today, investor focus has shifted to the expected listing price. The grey market premium, which offers an unofficial insight into pre-listing demand, remains robust.
As of December 10 morning, the latest Grey Market Premium (GMP) stands at Rs 43. Based on this, Meesho shares are projected to debut at around Rs 154, compared to the issue price of Rs 111, indicating a potential listing gain of approximately 38.74%.
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, anticipates a strong debut for the company. He expects Meesho Ltd to start trading in the range of Rs 139–Rs 144, indicating a 25–30% premium to the issue price, driven by robust subscription momentum and investor appetite for its asset-light, high-growth marketplace model.
Prasenjit Paul, Equity Research Analyst at Paul Asset and Fund Manager of 129 Wealth Fund, also foresees significant listing interest but advises caution regarding near-term volatility. He highlights Meesho as a high-growth ecommerce player with substantial penetration in Tier 2 and Tier 3 cities, emphasizing the need for investors to stay vigilant due to potential profit booking following sharp listing gains.
Meesho’s IPO, a book-built issue worth Rs 5,421.20 crore, comprised a fresh issue of 38.29 crore shares amounting to Rs 4,250 crore and an offer for sale of 10.55 crore shares valued at Rs 1,171.20 crore. The IPO subscription opened on December 3 and closed on December 5, with allotments finalized on December 8.
The price band for the IPO ranged from Rs 105 to Rs 111 per share, with a lot size of 135 shares. Meesho is scheduled to list on both the BSE and NSE on December 10.
While the grey market trend points to a strong initial trading session, market experts caution investors to remain vigilant post-listing, as volatility is common in the early stages of trading for new-age technology stocks.