Meesho IPO to make D-St debut on Dec 10: Here's what latest GMP hints at

Overall subscription for Meesho IPO was strong at 79.03 times, with total bids at 21.96 billion shares against the 277.93 million shares on offer

Meesho IPO listing forecast: Softbank-backed e-commerce firm Meesho is set to debut on the stock exchanges, BSE and NSE, on Wednesday, December 10, 2025, and early grey market trends suggest a solid start. 

 

The company raised ₹5,421.2 crore through its IPO, which comprised a fresh issuance of 382.9 million shares along with an offer for sale (OFS) of 105.5 million shares. 

 

The overall subscription for the Meesho IPO was strong at 79.03 times, with total bids at 21.96 billion shares against the 277.93 million shares on offer. The issue gained momentum on the final day, supported mainly by qualified institutional buyers (QIBs), whose category was subscribed 120.18 times. 

 

 

Similarly, non-institutional investors (NIIs) and retail investors also showed strong participation, with their segments subscribed 38.16 times and 19.08 times, respectively, as per NSE data.

 

The allotment was finalised on Monday, December 8, 2025, and investors are now awaiting the listing. Ahead of its debut, Meesho’s unlisted shares were quoted near ₹150 per share in the grey market, reflecting a premium of ₹39 or 35.14 per cent over the issue price of ₹111, according to sources tracking grey markets.

 

If this sentiment holds, the stock could list around ₹150, offering potential listing gains of roughly 35 per cent. However, analysts advise caution, noting that the grey market functions outside regulatory supervision and its premium may not accurately predict the actual listing price.  ALSO READ | ICICI Pru AMC sets price band for IPO, seeks ₹1.07 trillion valuation

Meesho IPO details

Meesho IPO comprised a fresh issue of 382.9 million shares aggregating to ₹4,250 crore and an OFS of 105.5 million shares aggregating to ₹1,171.2 crore. The issue was offered at a price band of ₹105 to ₹111 per share, with a lot size of 135 shares. The public issue was open for subscription from December 3 to December 5, 2025.

 

Kfin Technologies serves as the registrar for the public issue. The book-running lead managers include Kotak Mahindra Capital Company, JP Morgan India, Morgan Stanley India Company, Citigroup Global Markets India, and Axis Capital.

 

According to the Red Herring Prospectus (RHP), Meesho plans to use ₹1,390 crore from the net fresh issue proceeds to enhance cloud infrastructure at its subsidiary MTPL, and ₹480 crore for salaries of existing and new hires in its AI, Machine Learning, and technology teams. Additionally, ₹1,020 crore will be used for marketing and brand-building for MTPL, with the remaining funds allocated to inorganic growth, strategic projects, and general corporate purposes.