Meesho’s IPO GMP of Rs 5,421 crore indicates a strong listing. Check price range, financials and other important details

SoftBank-backed e-commerce player Meesho is seeing strong demand ahead of its Rs 5,421 crore IPO, with gray market signals suggesting the stock could debut at a premium of around 30% to its issue price of Rs 111 per share.The offer consists of a fresh issue of shares worth up to Rs 4,250 crore along with an OFS of 10.55 crore shares by existing investors. The IPO will begin on December 3 and is expected to go public on December 10. At the higher end of the price range, the total issue size works out to Rs 5,421.05 crore. The lower price band of the offer is Rs 105 per share.

Major shareholders including Elevation Capital V Ltd, Vidit Aatrey, Sanjeev Kumar, Peak XV Partners and Venture Highway are among the OFS participants. Proceeds from the OFS will go towards investor sales, while the new capital will be channeled into scaling the platform, upgrading technology infrastructure and improving market capabilities.

Meesho Financial Affairs

According to the revised figures, Meesho remains loss-making for FY25, resulting in negative earnings per share and making a price-to-earnings ratio irrelevant. Yet listed peers trade at a high average price-to-earnings ratio of 399.28x, underscoring the high valuations in the sector.

User and order growth remains a bright spot. During the six months ended September 30, 2025, the number of annual transaction users rose to 234.2 million, compared to 175.1 million a year earlier. The number of orders rose to 1,261.14 million in the same period, compared to 824.59 million in 2024.

Seller activity has also strengthened. The number of sellers transacting annually rose to 706,471 in the twelve months to September 2025, up from 440,824 a year earlier, with each seller placing an average of 3,214.5 orders, reflecting steady engagement on the platform.

Head managers

The IPO is being managed by a consortium of investment banks including Kotak Mahindra Capital, JP Morgan, Morgan Stanley, Axis Capital and Citigroup, while KFin Technologies Limited is the registrar.The allotment basis is expected to be finalized around December 8, with refunds and demat credits scheduled for December 9. Trading is expected to begin on Wednesday, December 10, pending regulatory approval.

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