Meesho, Aequs, and Vidya Wires IPOs overall bid exceeds ₹3 trillion

Meesho, Aequs and Vidya Wires drew bids worth nearly Rs 3 trillion, with institutional investors driving subscriptions as high as 120 times the shares on offer

The initial public offerings (IPOs) of Meesho, Aequs and Vidya Wires witnessed overwhelming investor demand, collectively attracting bids worth nearly Rs 3 trillion on Friday, the final day of subscription.

 

E-commerce platform Meesho’s Rs 5,421-crore IPO was subscribed 79 times, led by heavy demand from institutional investors. The qualified institutional buyer (QIB) category received bids 120 times the shares on offer, while the high-net-worth individual (HNI) and retail segments saw subscriptions of 38 times and 19 times, respectively.

 

Ahead of the issue, Meesho had raised Rs 2,440 crore from anchor investors such as SBI Mutual Fund, GIC, Fidelity, BlackRock, Axis Mutual Fund, Aditya Birla Mutual Fund, and tech-focused investors like Dragoneer. 

 

The issue was priced in the range of Rs 105-111 per share, comprising a fresh issue of Rs 4,250 crore and an offer for sale of Rs 1,171 crore.

 

At the upper end of the price band, the company’s valuation stands at around Rs 50,000 crore.

 

Aequs, a component manufacturer with a primary focus on the aerospace sector, also drew strong demand. Its Rs 922-crore IPO was subscribed 102 times, garnering bids worth over Rs 52,000 crore. The QIB category received 121 times subscription, the HNI category 81 times, and the retail category 78 times.

 

Meanwhile, Vidya Wires’ Rs 300-crore issue was subscribed 27 times. The QIB portion saw subscription of 5 times, while the HNI and retail segments were subscribed 52 times and 28 times, respectively. The issue was priced between Rs 48 and Rs 52 per share.