The highly anticipated initial public offering (IPO) of the social commerce giant Meesho has concluded with an overwhelming response from the investment community. The public issue, which aimed to raise funds through a combination of fresh shares and an offer for sale, has set the stage for a blockbuster stock market debut later this week.
Record-Breaking Subscription and Key IPO Details
Meesho's book-built issue witnessed a phenomenal overall subscription of 79.03 times, signalling massive investor confidence. The IPO, which was open for bidding from Wednesday, December 3, to Friday, December 5, had a price band set between ₹105 and ₹111 per share. The total issue size amounted to ₹5,421.20 crore.
The breakdown of subscription data reveals robust demand across all investor categories. The portion reserved for Qualified Institutional Buyers (QIBs) was booked a staggering 120.18 times. Non-institutional investors showed strong interest with a subscription of 38.16 times, while retail individual investors bid for 19.08 times the shares allotted to them.
Allotment Date, Listing, and Grey Market Premium
The fate of millions of applications will be decided on Monday, December 8, when the share allotment is expected to be finalised. Successful applicants will find the shares credited to their demat accounts on Tuesday, December 9. The much-awaited listing on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) is scheduled for Wednesday, December 10.
Adding to the excitement, Meesho shares are commanding a significant premium in the unofficial grey market. As of the morning of December 6, the Grey Market Premium (GMP) stood at ₹46.5. This suggests that the shares, with an upper price band of ₹111, could potentially debut around ₹157.5 per share, marking a premium of nearly 42% on the very first day of trading.
How to Check Your Meesho IPO Allotment Status
Investors who applied for the IPO can check their allotment status online from December 8 onwards through multiple portals. The official registrar for the issue is KFin Technologies Limited.
To check status on the Registrar's Website:
- Visit the KFin Technologies website.
- Select 'Meesho IPO' from the 'Select IPO' dropdown menu.
- Choose your identification method (Application Number, Demat Account, or PAN) and enter the details.
- Click 'Submit' to view your allotment status.
To check status on BSE:
- Go to the BSE's dedicated IPO status page.
- Select 'Equity' as the issue type.
- Choose 'Meesho IPO' from the list.
- Enter your Application Number or PAN details.
- Complete the CAPTCHA and click 'Search'.
To check status on NSE:
- Navigate to NSE's IPO bid details page.
- Select "Equity & SME IPO bid details".
- Pick 'Meesho' from the 'Select Symbol' dropdown.
- Input your PAN and Application Number.
- Hit the 'Submit' button to see the result.
The successful closure of Meesho's IPO underscores the growing appetite for new-age Indian tech companies in the public markets. All eyes are now on the listing day to see if the grey market predictions translate into reality for the e-commerce platform's public market journey.
