The much-anticipated initial public offering (IPO) of social commerce giant Meesho Ltd. witnessed robust investor appetite on its second day. The public issue, which opened for subscription on December 3, 2025, will close on December 5, 2025. The company aims to raise a total of ₹5,421.20 crore through this offering.
Strong Grey Market Sentiment and Subscription Numbers
Market sentiment around the Meesho IPO remains highly positive. According to observers in the unofficial grey market, Meesho shares are commanding a premium of ₹51 today. This marks a significant jump from the previous day's Grey Market Premium (GMP) of ₹47 and a notable rise from ₹42 at the start of the subscription period.
This bullish trend in the grey market is mirrored by the official subscription data. After the conclusion of bidding on the first day, the ₹5,421.20 crore public issue was subscribed 2.35 times. The retail investor segment showed particularly strong interest, getting booked 3.86 times. The Qualified Institutional Buyer (QIB) portion was subscribed 2.12 times, while the Non-Institutional Investor (NII) segment saw 1.80 times subscription.
IPO Details and Analyst Perspectives
The Meesho IPO is a combination of a fresh issue of shares and an Offer for Sale (OFS). The company plans to raise ₹4,250 crore by issuing new shares, while the remaining ₹1,171.20 crore will come from the OFS route. The price band for the IPO has been set at ₹105 to ₹111 per equity share. Investors can bid in lots, with one lot comprising 135 shares.
The tentative date for share allotment is December 6, 2025, which could shift to December 8, 2025, as the former is a Saturday. The shares are proposed to be listed on both the BSE and the NSE.
What Brokerages Are Saying
Several leading brokerages have given a 'subscribe' recommendation for the IPO, albeit with a long-term view. Rajan Shinde, Research Analyst at Mehta Equities, highlighted the company's growth trajectory. He noted that while Meesho's revenue from operations grew 32.8% year-on-year in FY2024 and 23.3% in FY2025, profitability remains negative due to ongoing investments.
"At the upper price band of ₹111, the issue is seeking a market capitalisation of ₹50,096 crore. Based on FY2025 actuals, the company is valued at approximately 5.3x Market-Cap to sales," Shinde said. He added that Meesho's deep category penetration, rising monthly active users (MAUs), and lower cost structure position it well for long-term market share gains and improved profitability.
Abhinav Tiwari, Research Analyst at Bonanza, advised investors to apply but pointed out the competitive challenges. "Meesho operates in a highly competitive Indian e-commerce market with weaker fundamentals," Tiwari stated. He mentioned that despite achieving 1.8 billion annual transactions, the company reported adjusted EBITDA losses of ₹5,518 crore in the first half of FY26.
Other prominent firms like ICICI Direct, Marwadi Shares and Finance, SBI Securities, Master Capital Services, Swastika Investmart, and Ventura Securities have also assigned a 'subscribe' rating to the Meesho IPO.
Disclaimer: This article is for informational purposes only. The views and recommendations are those of individual analysts or broking firms. Readers are advised to consult certified experts before making any investment decisions.
