Meesho IPO subscribed 79 times on final day of bidding; check GMP

Meesho IPO sees robust subscription.

Meesho initial public offer (IPO) saw robust subscription on the final day of bidding on Friday.  The IPO received bids for 2,196.20 crore shares shares against 27.79 crore shares on offer, translating to 79 times overall subscrption, according to the NSE data.

Among investor categories, the non-institutional investor portion received 38.14 times subscription, while the quota for Retail Individual Investors (RIIs) fetched 19.02 times subscription. The Qualified Institutional Buyers (QIBs) portion attracted 120.18 times subscription.

The softBank-backed e-commerce firm's Rs 5,421 crore IPO got subscribed 7.97 times on the second day of share sale on Thursday. It received 2.35 times subscription on the first day of share sale on Wednesday, helped by across-the-board investors' participation.

Earlier, it garnered a little over Rs 2,439 crore from anchor investors. The company has fixed a price band of Rs 105-111 per share, valuing Meesho at Rs 50,096 crore at the upper end.

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Meesho IPO GMP Today Price

According to platforms tracking the grey market activities, the shares of Meesho are commanding a GMP of 43 percent in the unregulated market. Investorgain quoted a GMP of Rs 48 for the shares of the company, indicating a listing gain of 43.24 percent. IPO Watch also quoted a 43 percent GMP.

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.

Meesho IPO share allotment is likely to be finalized by December 8, while shares are proposed to be listed on December 10.

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