Meesho IPO subscribed 2.4 times on day one; retail book nearly four times

Meesho's IPO was subscribed 2.4 times on the first day, driven by strong retail demand, after it raised Rs 2,440 crore from anchors and set a price band of Rs 105-111 per share

The initial public offering (IPO) of  ecommerce platform Meesho was subscribed 2.4 times on Wednesday, the first day of bidding.

The qualified institutional buyers (QIB) category was subscribed 2.12 times, the high-net-worth individual (HNI) portion 1.8 times, while the retail segment saw robust demand at nearly 4 times subscription. 

On Tuesday, Meesho had raised ₹2,440 crore from anchor investors, including SBI Mutual Fund, GIC, Fidelity, BlackRock, Axis Mutual Fund, Aditya Birla Mutual Fund, and tech-focused investors such as Dragoneer. 

The company has set a price band of ₹105–111 per share for the ₹5,421-crore IPO, which comprises a fresh issue of ₹4,250 crore and an offer for sale (OFS) of ₹1,171 crore. 

 

At the upper end of the price band, the SoftBank- and Peak XV Partners-backed firm commands a valuation of around ₹50,000 crore. 

For the first half of FY26, Meesho reported a net loss of ₹700 crore on revenues of ₹5,578 crore. 

Brokerage Nirmal Bang, which has assigned a ‘subscribe’ rating to the issue. It noted, “Meesho has built a strong foothold in Tier-2 and Tier-3 e-commerce with its zero-commission, asset-light model that supports an ecosystem of affordable products benefitting sellers, consumers, content creators, and logistics players in non-metro markets.  

At the upper price band, the stock is valued at 5.7x FY25 Price/Sales, which looks reasonable.”

 

IGX decides to go public to raise funds 

 

Indian Energy Exchange on Wednesday said the board of Indian Gas Exchange (IGX) has decided to go public to raise funds through an initial public offering. 

However the IEX did not divulge details about the size of the issue, opportune time and the modalities of the issue. According to a regulatory filing, the Board of Directors of IGX, an associate company of IEX, at its meeting held on December 2, 2025, has approved to start the process of IPO of the equity shares of face value of ₹10 each of IGX. The IPO will be conducted through an offer for sale by certain existing and eligible shareholders, it stated. (PTI)

 

Aequs, Vidya Wires fully subscribed on Day 1

 

The initial share sale of Aequs Ltd, a contract manufacturing firm specialising in consumer durable goods and aerospace parts, sailed through within hours of the start of the bidding process on Wednesday and finally ended the day with 3.42 times subscription. Meanwhile, the IPO of Vidya Wires got fully booked hours after opening for subscription on Wednesday and later ended the day with 2.89 times subscription. PTI