The anchor book saw demand exceed Rs 80,000 crore, which translates into almost 30 times more registrations.Earlier today, a controversy broke out AND report a setback in the anchor book. The report said several major investors pulled out when the Indian e-commerce company allegedly allocated about a quarter of the shares in this tranche to SBI Funds Management Pvt.
Also read: Meesho faces investor protests over anchor allocation to SBI Funds
Among the SBI funds that received allocations were the SBI Innovative Opportunities Fund, the SBI Consumption Opportunities Fund and the SBI Resurgent India Opportunities Scheme.
Meesho IPO GMP
Meesho’s IPO is creating a buzz in the gray market, with the gray market premium (GMP) hovering around Rs 50-51 hours before the opening. This translates into an expected listing gain of almost 46% at Rs 162.
A gray market premium (GMP) reflects the unofficial price at which IPO shares trade among investors before listing. Although not regulated by exchanges, GMP provides a market-based indicator of potential demand and price expectations.
A strong GMP generally indicates robust investor interest and the possibility of a positive listing, although this is no guarantee of performance.
Meesho IPO details and important dates
The Meesho IPO is open for subscription from December 3 to 5, with the price band set at Rs 105-Rs 111 per equity share. The lot size for retail investors is 135 shares, which means a total investment of Rs 14,985 per lot in the higher price bracket.
The allotment is expected to be completed on December 8, followed by refunds and demat credits on December 9. The listing is scheduled for December 10 on the motherboard exchanges.
What do analysts say about Meesho’s IPO?
According to analysts, Meesho has established a strong position in India’s value-oriented e-commerce sector, supported by improving economic conditions, growing user engagement and a growing seller base.
While the company’s profitability remains under pressure in the near term due to restructuring and operating costs, the implied price-to-sales ratio of 5.5x for FY25 is seen as reasonable compared to peers.
Perumal Raja KJ of FundsIndia believes Meesho offers medium-term opportunities for investors comfortable with early-stage platform risk.
The Indian e-commerce sector itself is expected to grow rapidly, with the retail market expected to grow from Rs 83 lakh crore to Rs 135 lakh crore by FY30. Penetration of non-electronic products remains low, giving Meesho significant headroom to scale.
About Meesho and finances
Meesho reported robust growth in FY25, with revenue rising to Rs 9,390 crore from Rs 5,730 crore in FY23, driven by higher order volumes, improved merchant services and better fulfillment efficiency. Despite temporary losses in the first quarter of FY26 due to restructuring and ESOP costs, the company reported positive free cash flow for both FY24 and FY25.
User engagement also rose sharply, with 234.2 million users transacting annually in September 2025, up from 175 million a year earlier. Order volume rose to 1,261 million, while the number of active sellers rose to 706,471.
Lead managers for Meesho IPO
The IPO is being managed by a consortium of top investment banks including Kotak Mahindra Capital, JP Morgan, Morgan Stanley, Axis Capital and Citigroup. KFin Technologies serves as registrar for the issue.
Trading is expected to begin on December 10, pending regulatory approval.
(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times)
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