Meesho’s initial public offering has been a massive success, subscribed a remarkable 79 times. SoftBank-backed ecommerce platform Meesho is set to list on Wednesday, December 10, after completing its ₹5,421-crore initial public offering (IPO). The issue drew extraordinary interest, and was subscribed 79 times.
Here are some key details.
GMP details and listing gains
As of December 8, Meesho’s grey market premium (GMP) stood at around ₹40–41 per share, indicating an expected listing range of roughly ₹151–152, about 36.04% above the upper end of the ₹111 price band. This strong GMP highlights upbeat sentiment in the unofficial market, though it does not guarantee the actual listing price.
The IPO, which ran from December 3 to December 5, has already completed its allotment process, with shares expected to be credited to demat accounts on Tuesday, December 9.
Meesho IPO subscription details
The IPO was subscribed 79.03 times overall, according to exchange data.
The institutional quota (QIB) category saw the heaviest demand, and was subscribed 120.18 times, with bids for over 18 billion shares against roughly 15 crore available. The non-Institutional investors (NII) segment was subscribed 38.16 times, while the retail individual investor portion (RII) saw bids of 19.08 times the shares reserved for the category.
Among IPOs above ₹1,000 crore this year, Urban Company holds the top subscription record at 104 times. The Gurugram-based company listed in September after a ₹1,900-crore issue.
Other IPO details
Meesho, headquartered in Bengaluru, will become the first horizontal ecommerce marketplace to list in India. The ₹5,421-crore issue, including ₹4,250 crore raised as fresh capital, values the company at ₹51,535 crore on a post-money basis.
On December 2, the company completed a ₹2,439-crore anchor round. Of this, domestic mutual funds took up ₹1,040 crore, with SBI Mutual Fund alone accounting for nearly a quarter of the anchor book. Global investors, including GIC, BlackRock, Fidelity and Tiger Global also participated.
How the IPO proceeds will be used
The funds will be directed towards strengthening cloud infrastructure, marketing and brand building, and expansion through acquisitions and other strategic projects. The remaining proceeds will be used for general corporate requirements.
Meesho financials
Meesho’s operating revenue rose 29% to ₹5,577 crore in the first half of FY26, up from ₹4,311 crore a year earlier. Over the same period, its net loss narrowed sharply to ₹700 crore from ₹2,512 crore.
For FY25, Meesho reported a 23% year-on-year increase in operating revenue to ₹9,390 crore. However, it posted a net loss of ₹3,942 crore, mainly due to a one-off tax hit shifting its corporate domicile from the US to India.
In comparison, the company’s net loss in FY24 stood at ₹328 crore, with an increase in tax expense that year linked to business restructuring.
Nevertheless, brokerages such as ICICI Direct and SBI Securities have issued ‘subscribe calls’ for the company’s stock, highlighting improving unit economics, stronger contribution margins, and consistent free cash flow generation over the past two years.
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