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Meesho IPO Oversubscribed 79x Amidst Investor Frenzy
5 Dec
Summary
- Meesho's IPO was subscribed 79 times, with strong demand from Qualified Institutional Buyers.
- The offering included a Rs 4,250 crore fresh raise and Rs 1,171 crore OFS from early investors.
- Meesho reported revenue of Rs 9,390 crore last fiscal year with Rs 108 crore losses.
E-commerce platform Meesho's Initial Public Offering (IPO) concluded with remarkable success, attracting investor interest that resulted in the issue being subscribed a staggering 79 times. The demand was primarily fueled by Qualified Institutional Buyers (QIBs), who subscribed over 120 times, indicating strong institutional confidence.
The IPO comprised a fresh issuance of shares worth Rs 4,250 crore, alongside an Offer for Sale (OFS) amounting to Rs 1,171 crore by early backers and some founders. This component allowed investors like Elevation Capital and Peak XV Partners to partially monetize their stakes, achieving substantial returns.
Financially, Meesho reported revenue of Rs 9,390 crore in the last fiscal year, accompanied by losses of Rs 108 crore before exceptional items and tax. The company's performance and market reception signal significant potential as it moves forward as a publicly listed entity.
