Meesho has raised Rs 2,439 crore from anchor investors ahead of its initial public offering, allotting 219.78 million shares at Rs 111 apiece, the company said in an exchange filing.
More than 60 institutional investors participated in the anchor round. The book received bids of over Rs 80,000 crore, indicating nearly 30 times oversubscription.
The largest allocation went to SBI Mutual Fund, whose schemes together received a significant share of the book. SBI Balanced Advantage Fund was allotted 18.47 million shares (8.40%). SBI Focused Fund picked up 16.66 million shares (7.58%). SBI Innovative Opportunities Fund received 11.71 million shares (5.33%).
Among global investors, the Government of Singapore was allotted 14.90 million shares (6.78%). Other major participants included Fidelity Funds – India Focus Fund, Tiger Global, Kora Master Fund, Amansa, Goldman Sachs, Franklin Templeton, Morgan Stanley, BlackRock Global Funds, and the Monetary Authority of Singapore.
In total, 45.91% of the anchor book was allocated to domestic mutual funds and insurance companies, spread across multiple schemes.
The IPO opens for subscription on December 3.
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