SoftBank-backed e-commerce firm Meesho on Tuesday said it has garnered a little over Rs 2,439 crore from anchor investors, including SBI Mutual Fund, Fidelity Funds, and BlackRock, ahead of its initial public offering (IPO) opening for subscription.
The anchor book witnessed demand of over Rs 80,000 crore, translating into nearly 30 times oversubscription, sources said. The anchor book saw participation from 60 investors, including major domestic institutional investors and leading global names such as the Government of Singapore, the Monetary Authority of Singapore, Tiger Global, Goldman Sachs, and Morgan Stanley, according to a circular uploaded on the BSE website.
What does the company circular say?
On the domestic front, SBI Mutual Fund (MF), UTI MF, Tata MF, Motilal Oswal MF, Axis MF, Motilal Oswal MF, Bandhan MF, and HSBC MF, among others, have been allotted shares. As per the circular, the company has allocated 21.97 crore equity shares at Rs 111 apiece, raising a total of Rs 2,439.5 crore.
Meesho is aiming to raise Rs 5,421 crore through its IPO, which opens for subscription on December 3 and concludes on December 5. The company has fixed a price band of Rs 105-111 per share, valuing Meesho at Rs 50,096 crore (USD 5.6 billion) at the upper end.
The IPO will comprise 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. The offer for sale includes the sale of equity shares by some of Meesho’s early investors, including Elevation, Peak XV, Venture Highway and Y Combinator, among others.
Messho’s capex plans
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. The company will make its debut on the stock market on December 10.
Overall, 75 per cent of the issue size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors. In FY25, Meesho connected over 5 lakh transacting sellers with 199 million annual transacting users, facilitating 1.8 billion placed orders. The company’s Net Merchandise Value (NMV) grew 29 per cent year-on-year to Rs 29,988 crore in FY25, following 21 per cent growth in FY24.
In e-commerce, NMV refers to the cumulative checkout value of successfully delivered orders, inclusive of taxes. It is a core measure of platform health as it reflects the strength of customer adoption and repeat usage, making it a key driver of revenue, margins, and cash flow across the ecosystem.
Financially, the company posted a net loss of Rs 3,942 crore for FY25, primarily due to one-time exceptional items, including reverse flip tax and perquisite tax, which were necessary for the company’s transition to a public structure.
The company substantially narrowed its losses to Rs 700.72 crore in the first half of FY26 from Rs 2,513 crore a year ago. Its revenues from operations rose to Rs 5,577.54 crore in the six-month period ending September 2025 from Rs 4,311.29 crore a year earlier.