The much-anticipated share allotment for the initial public offering (IPO) of the SoftBank-backed e-commerce platform Meesho has been finalised. Investors who applied for the issue can now discover their fate, as the basis of allotment was determined on Monday, December 8.
How to Check Meesho IPO Allotment Status
Applicants can check whether they have been allocated shares in the Meesho IPO by visiting the official portal of the registrar, which is Kfin Technologies Ltd. The process involves entering application details to determine the specific number of shares allotted, based on the allocation guidelines and the total shares available. For those who did not receive any shares, the company will initiate the refund process starting Tuesday, December 9. Successful applicants will see their shares credited directly to their demat accounts on the same day.
Strong Grey Market Premium and Listing Details
The grey market premium (GMP) for Meesho shares stood at ₹42 as of today. Considering the upper end of the IPO price band at ₹111 per share, this premium indicates an estimated listing price of around ₹153 apiece. This suggests a potential listing gain of approximately 37.84% over the issue price, reflecting robust investor appetite. The official Meesho IPO listing date is scheduled for Wednesday, December 10 on the stock exchanges.
Overwhelming Response and Use of IPO Funds
The public offering witnessed an overwhelming response from investors, closing with a subscription of 79.02 times on the final day of bidding, Friday, December 5. This massive oversubscription underscores the market's confidence in Meesho's growth story. The company plans to utilise the net proceeds from the fresh issue for several strategic purposes. These include significant investments in cloud infrastructure, enhancing marketing and branding efforts, and funding expansion through potential acquisitions and strategic initiatives. A portion will also be allocated for general corporate purposes.
Investors are advised to check their allotment status promptly and monitor their bank accounts for refunds and demat accounts for share credits as per the outlined schedule.
