The final day for applying to the much-anticipated initial public offering (IPO) of e-commerce platform Meesho Ltd. is here. The ₹5,421.20 crore public issue, which opened on December 3, 2025, will close for subscription today, December 5, 2025. This gives Indian investors one last opportunity to bid for shares of the company, which operates on a unique zero-commission model.
Strong Investor Appetite and Grey Market Buzz
Market sentiment around the Meesho IPO remains highly positive, reflected in the grey market activity. According to market observers, Meesho shares are commanding a grey market premium (GMP) of ₹53 today. This marks a significant jump from the ₹42 GMP recorded just three days ago and is ₹2 higher than yesterday's premium of ₹51.
This surge in the unofficial market is directly linked to the robust subscription numbers. After the end of the second day of bidding, the public issue was overall subscribed 7.97 times. The breakdown shows even stronger interest from retail and non-institutional investors (NIIs). The retail portion was booked 9.14 times, while the NII segment saw 9.18 times subscription. The qualified institutional buyer (QIB) portion was subscribed 6.96 times.
Meesho IPO: Key Details for Investors
For investors looking to apply on the final day, here are the crucial details. The company has set a price band of ₹105 to ₹111 per equity share. The IPO is a mix of a fresh issue of shares worth ₹4,250 crore and an offer for sale (OFS) component of ₹1,171.20 crore.
Investors must apply in lots, with one lot consisting of 135 shares. The most likely date for the share allotment is December 6, 2025. However, if there is a delay, the allotment may happen on December 8, 2025. The shares are proposed to be listed on both the BSE and the NSE.
What Brokerages Are Saying
Leading brokerage firms have largely recommended subscribing to the Meesho IPO, albeit with a long-term perspective. Anand Rathi has given a 'subscribe' tag, noting that while the issue appears richly priced with a post-issue market cap of around ₹5,00,958 million, the company's improving operational metrics are promising. They highlighted that Meesho turned free cash flow positive in FY25, signalling stronger operating discipline.
Nirmal Bang also recommends an 'apply', praising Meesho's strong foothold in tier 2 and 3 cities with its asset-light model. They pointed out that the issue is available at 5.7x FY25 Price/Sales, which they find reasonable. Other major brokerages like ICICI Direct, SBI Securities, Marwadi Shares and Finance, and Mehta Equities have also assigned a 'subscribe' rating to the offer.
Analysts unanimously caution that Meesho is still in an investment phase and posted a restated loss of ₹39,417 million in FY25. The path to profitability, they say, depends on sustained cost optimization and marketing efficiency in the growing but competitive Indian e-commerce sector.
Disclaimer: This article is for informational purposes only. The views and recommendations are those of individual analysts. Investors are advised to consult certified experts before making any investment decisions.
