The much-anticipated initial public offering (IPO) of Meesho Ltd., the e-commerce platform known for its zero-commission model, has officially opened for subscription today. The public issue will remain available for investors until 5 December 2025. This marks a significant milestone for the homegrown company aiming to deepen its reach across India's vast consumer market.
Meesho IPO: Key Details and Financials
The company has set its IPO price band at ₹105 to ₹111 per equity share. Through this Fresh Capital-cum Offer for Sale, Meesho aims to raise a total of ₹5,421.20 crore. A significant portion of this, ₹4,250 crore, will be raised through the issuance of fresh shares. The remaining ₹1,171.20 crore is reserved for the Offer for Sale (OFS) route where existing shareholders will sell a part of their stake. The mainboard IPO is proposed for listing on both the BSE and the NSE.
Market activity has already begun in the unofficial grey market. According to observers, Meesho shares are commanding a premium of ₹47 in the grey market today. This indicates strong investor interest, as it is ₹5 higher than the previous day's Grey Market Premium (GMP) of ₹42.
Essential IPO Information for Investors
For retail and institutional bidders, the IPO is structured in lots. One lot comprises 135 company shares. The registrar appointed for the issue is KFin Technologies, while a consortium of top investment banks, including Kotak Mahindra Capital, JP Morgan India, Morgan Stanley India, Axis Capital, and Citigroup Global Markets India, are the lead managers.
The timeline for the process is clear. The most likely date for share allotment is 6 December 2025, with a possible shift to 8 December 2025 due to a weekend. Subsequently, the shares are expected to be listed on the stock exchanges on 10 December 2025.
Analyst Reviews and Investment Outlook
Several leading brokerage firms have analyzed the offer and largely recommend subscribing to it, particularly for long-term investment horizons. Master Capital Services has assigned a 'subscribe' tag, highlighting Meesho's position as a major pure-play e-commerce firm focused on 'Everyday Low Prices'. They note the company's plans to expand its consumer base, product listings, and invest in technology and AI capabilities.
Swastika Investmart has given a 'buy' recommendation, pointing out Meesho's strong penetration in Tier-2 and Tier-3 cities—a segment where giants like Amazon and Flipkart face challenges. They highlighted that Meesho turned Free Cash Flow (FCF) positive in FY25, even as reported net profit stayed negative due to one-off items. At an estimated valuation of around $6 billion (₹50,000 crore), they find the price attractive at roughly 5.5 times Price-to-Sales (P/S) for FY25, especially when compared to peers like Zomato.
Other prominent names like ICICI Direct, Marwadi Shares and Finance, SBI Securities, and Ventura Securities have also echoed the 'subscribe' sentiment for 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 strongly advised to consult with certified investment experts before making any financial decisions.
