E-commerce firm Meesho’s initial public offering got subscribed 79.02 times on the third day of share sale on Friday.
The company’s IPO received bids for 21,96,29,80,305 shares against 27,79,38,446 shares on offer, according to NSE data.
Category-wise subscription
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 subscription.
The initial public offer (IPO) of Meesho Ltd 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 size
The e-commerce firm 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.