Published: December 3, 2025 8:34 AM IST 
Meesho IPO: The much-awaited initial public offering (IPO) of e-commerce platform Meesho is set to open on Wednesday. The company will open its Rs 5,421.2 crore IPO for subscription today. But before the launch, the e-commerce giant has already raised Rs 2,439.5 crore from anchor investors, who subscribed to a total of 21.98 crore equity shares at Rs 111 per share. The issue is scheduled to close on Friday, December 5.
Notably. 9.37 crore equity shares (43 percent anchor book) were booked up by 14 major Indian mutual funds, including – SBI, Aditya Birla Sun Life, Axis, HSBC. Major investors who attended the anchor round included – Government of Singapore, Tiger Global, BlackRock and Fidelity, and Morgan Stanley.
As per Angel One, Meesho is a long-term play; it has given Meesho a ‘Subscribe for long term’ rating. At the upper end which is Rs 111 per share, the company’s current post-issue market capitalisation is Rs 50,096 crore. However, the P/E ratio doesn’t apply as the e-commerce company is still loss-making. The IPO instead values Meesho at 5.3 times its FY25 price-to-sales. This is supported by a strong Grey Market Value run-rate of USD6.2 billion and improving marketplace contribution margins that increased by 3.8 percent of NMV in the first half of FY26.
SBI Securities also recommended Meesho for long term. The brokerage stated that the e-commerce company has a zero-commission model and the primary source of its earnings are logistics and advertising. Highlighting its net losses, Meesho succeeded in generating free cash flows since 2023.
The e-commerce company’s price band has been set at Rs 105- Rs 111 per share. Its face value is Rs 1.
The Retail investors are eligible to apply for a 135-share lot, which requires a minimum investment of Rs 14,985. The company has reserved only 10 percent of the issue for retail investors. On the other than QIBs have a 75 percent issue and non-institutional investors have 15 percent. Small HNIs can apply for minimum 1,890 shares and large HNIs can apply for 9,045 shares.
It is worth noting that the company’s IPO has a fresh issue of Rs 4,250 crore and for existing investors, it has an Offer for Sale of Rs 1,171.2 crore.
At price band’s top, the company’s market cap will stand at Rs 50,000 crore. After the IPO, the promoter holding will decrease from 19.08 percent to 16.76 percent.
The IPO is basically a book-built issue of Rs 5,421.20 crore, including a fresh issue of 38.29 crore shares (Rs 4,250 crore) and an offer for sale of 10.55 crore shares (Rs 1,171.20 crore).
The IPO opens on December 3 and will close its window on December 5. The investors have three days to make investments.
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