E-commerce firm Meesho’s initial public offering closed on Friday with final subscription at 79.02 times. The SoftBank-backed online marketplace opened its IPO for subscription on December 3 and was fully subscribed on Day 1 itself.
The share allotment for the Meesho IPO is likely to take place on Monday, December 8. Once the allotment is finalised, successful bidders will receive shares in their demat accounts on December 9, while refunds for those who don’t get shares are expected the same day. Meesho’s market debut is scheduled for December 10, when its shares will be listed on both the BSE and NSE.
Meesho IPO Subscription details
On the third and final day, Meesho’s IPO received bids for 21,96,29,80,305 shares against 27,79,38,446 shares on offer, according to NSE data.
Among investor categories, the non-institutional investor portion received 38.15 times subscription, while the quota for Retail Individual Investors (RIIs) fetched 19.04 times subscription. The Qualified Institutional Buyers (QIBs) portion attracted 120.18 times the subscription.
The IPO received 2.35 times subscription on the first day and 7.97 times of share sale on, helped by across-the-board investors’ participation.
Meesho on Tuesday said it has garnered a little over Rs 2,439 crore from anchor investors.
Meesho IPO GMP status
Meesho IPO’s last GMP was Rs 44 on December 6 at 3:00 PM. With the price band of 111, Meesho IPO’s estimated listing price is Rs 155. The expected percentage gain/loss per share is 39.64%.
Meesho IPO size
Meesho is raising Rs 5,421 crore in IPO, and has fixed a price band of Rs 105-111 per share, valuing Meesho at Rs 50,096 crore ($5.6 billion) at the upper end.
The IPO has a fresh issue of shares worth Rs 4,250 crore, along with an Offer For Sale (OFS) of 10.55 crore shares valued at Rs 1,171 crore at the upper band, taking the total issue size to Rs 5,421 crore.
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.