The SoftBank-backed e-commerce company Meesho entered the second bidding day on Thursday, December 4. The online shopping platform opens for subscription on Wednesday, December 3 and it will close on Friday, December 5. The 5421 crore IPO was fully subscribed on the first day of bidding and today the issue was subscribed by 5.42 times till afternoon.
The retail portion remained the most active, which was subscribed by 8.20 times, while qualified institutional buyers subscribed 3.82 times, non non-institutional investors subscribed 6.78 times so far.
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The tentative date for the shares allotment is set on Monday, December 8 and the listing of shares on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on December 10. Investors will get a lot size of 135 shares with the minimum investment of Rs 14,175. The price band per share is Rs 105 to Rs 111.
Meesho IPO GMP
The share price of Meesho IPO is trading at Rs 43 in the unlisted grey market premium (GMP) at 2.31 pm on Thursday, which is Rs 1.5 lower than yesterday. The estimated listing is Rs 154.05 with the price band of Rs 111 with a gain of 39.19%. Over the last two days, the Meesho IPO GMP has decreased from Rs 49 to Rs 43.50.
Out of Rs 5,421.20 crore, the e-commerce company to spend Rs 4,250 crore is intended to be raised through the issuance of fresh shares. The remaining Rs 1,171.20 crore is reserved for the OFS route. Meesho IPO is proposed for listing on the BSE and the NSE.