Meesho, Aequs and Vidya Wires IPOs set for market debut tomorrow; check latest GMP

Meesho, Aequs and Vidya Wires IPOs set for market debut on December 10. 

Shares of Meesho, Aequs and Vidya Wires will make their market debut on December 10. All three IPOs are showing a firm trend in the grey market, with premiums of about 35 percent, according to data from Investorgain.

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SoftBank-backed Meesho’s initial public offering was subscribed 79.02 times on the final day of bidding on Friday. The Rs 5,421-crore issue was priced in the range of Rs 105-111 per share, valuing the e-commerce company at Rs 50,096 crore at the upper end.

Meesho plans to utilise proceeds for investment in cloud infrastructure, marketing and brand initiatives, as well as funding inorganic growth through acquisitions and other strategic initiatives, and general corporate purposes.

Aequs Ltd, a contract manufacturing company focused on consumer durable goods and aerospace components, saw its IPO subscribed 101.63 times at the close of bidding. The price band for the issue was fixed at Rs 118-124 per share, valuing the company at over Rs 8,300 crore.

Funds raised from the fresh issue would be used for repaying loans taken by the company and its two subsidiaries -- AeroStructures Manufacturing India and Aequs Consumer Products, purchasing machinery and equipment for the company and AeroStructures, and supporting future growth through potential acquisitions, other strategic initiatives, and for general corporate needs.

The IPO of Vidya Wires Ltd was subscribed 26.59 times on Friday. The company had set a price range of Rs 48-52 per share for the offer.

The company plans to utilise net proceeds towards funding capital expenditure requirements for setting up new projects in subsidiary ALCU, payment of debt, and for general corporate purposes.

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