Meesho's Market Debut: A Stellar 46% Premium Gain

E-commerce company Meesho made an impressive market debut on the NSE and BSE, listing at a 46% premium over its issue price. With a market valuation exceeding Rs 77,000 crore, the successful IPO raised Rs 5,421 crore. The funds will be used for infrastructure, marketing, and acquisitions.

In a stunning market debut, shares of e-commerce company Meesho began trading at Rs 162.50 on the NSE, marking a leap of 46.40% compared to the issue price of Rs 111. Similarly, the stock opened at Rs 161.20 on the BSE, reflecting a 45.22% increase.

The company's Initial Public Offer (IPO) garnered significant interest, witnessing a 79.02 times subscription rate on its final day. The IPO, valued at Rs 5,421 crore, included a fresh issue of shares worth Rs 4,250 crore and an Offer For Sale (OFS) of 10.55 crore shares, priced at Rs 111 per share at the upper band.

Proceeds from the IPO are earmarked for investments in cloud infrastructure, boosting marketing and brand initiatives, as well as funding acquisitions and strategic initiatives. Meesho's market valuation after its IPO stands at Rs 77,355.07 crore on the BSE and Rs 77,273.83 crore on the NSE.

(With inputs from agencies.)