The SoftBank-backed e-commerce platform was oversubscribed on the third and last day of bidding. The Rs 5,421.20 crore IPO was subscribed by 78.88 times, with qualified institutional buyers subscribed over 120 times, while non-institutional investors subscribed 38.07 times and retail individual investors subscribed 18.41 times.
The allotment shares of Meesho IPO will be finalised on Monday, December 8 and the tentative date of listing on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) is set on December 10.
The Meesho IPO was introduced on December 3 for public subscription and closed on December 5. Investors got a three-day window to invest a minimum of Rs 14,175 with a lot size of 135 shares and the IPO share price range was set between Rs 105 to Rs 111.
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The issue includes a fresh raise of Rs 4,250 crore and an OFS of 10.55 crore shares worth Rs 1,171 crore by early backers and some founders. Investors such as Elevation Capital, Peak XV Partners, Y Combinator, Venture Highway and others will partially exit through the OFS, monetising a portion of their long-held stakes.
Meesho IPO GMP
The share price in the grey market premium (GMP) is trading at Rs 48 on Friday at 4.56 pm. The estimated listing is Rs 159, which is 43.24% gain over the IPO price of Rs 111.
The GMP of Meesho IPO went down ahead of its allotment of shares. Before the day of IPO bidding, the GMP price of Meesho share was trading at Rs 49.