Home / Business and Economy / Meesho's IPO Soars: 46% Jump on Debut
Meesho's IPO Soars: 46% Jump on Debut
10 Dec
Summary
- Meesho shares surged 46% on their first trading day.
- The e-commerce platform raised $606 million in its IPO.
- The company aims to connect small merchants with value-conscious consumers.
Meesho, an Indian e-commerce marketplace, made a notable entrance into the public market, witnessing its shares jump up to 46% from their initial issue price on the first day of trading. The company, which began as a WhatsApp-based social commerce platform, has successfully carved out a niche by connecting small merchants with a large base of value-conscious consumers, particularly in smaller towns.
The Bengaluru-based company's IPO raised $606 million, with its stock opening at ₹162.50 and reaching a high of ₹171.84, valuing the 10-year-old firm at approximately $8.69 billion. This public debut follows a private valuation of about $5 billion in 2021 and signifies a major milestone for the e-commerce disruptor that competes with giants like Amazon and Flipkart.
In the six months ended September 30, Meesho reported significant revenue growth of over $620 million, though its losses also widened. The company's commission-light model continues to put pressure on rivals, positioning it as a key player in India's dynamic e-commerce landscape.
