Meesho IPO day 2: The initial public offering (IPO) of Meesho Ltd. hit the Indian primary market on December 3, 2025,
and the issue will remain open until December 5, 2025. The e-commerce company that operates on a zero-business model has
declared the Meesho IPO price band at ₹105 to ₹111 per equity share. The Fresh Capital-cum Offer for Sale is a
combination of fresh issue and an offer for sale (OFS). The company aims to raise ₹5,421.20 crore, out of which ₹4,250
crore is intended to be raised through the issuance of fresh shares. The remaining ₹1,171.20 crore is reserved for the
OFS route. Meesho IPO is proposed for listing on the BSE and the NSE.
According to market observers, shares of Meesho Ltd. are available in the grey market at a powerful premium. They said
that Meesho shares are available at a premium of ₹51 in the grey market today, which is ₹4 higher than yesterday's
Meesho IPO GMP (Grey Market Premium) of ₹47. Over the last two days, the Meesho PO GMP has increased from ₹42 to ₹51
today. According to market observers, the rise in the Meesho IPO GMP today can be attributed to the strong subscription
status for the Meesho IPO following the end of bidding on the first day. The public issue worth ₹5,421.20 crore had been
booked 2.35 times after the end of the first day's bidding.
Meesho IPO subscription status
By 12:18 PM on day 2 of bidding, the public issue had been subscribed 3.60 times, the retail portion had been booked
6.50 times, the NII segment had been subscribed 4.56 times, whereas the QIB portion had been subscribed 2.13 times.
Meesho IPO date, price, and other details
As mentioned above, the Meesho IPO subscription period will remain open until December 5, 2025. So, investors have two
days to apply for the public issue. The e-commerce company has announced the Meesho IPO price band at ₹105 to ₹111 per
share. The most likely Meesho IPO allotment date is 6 December 2025. However, in the case of a delay due to Saturday
falling on 6 December 2025, the most likely Meesho IPO allotment date will be 8 December 2025. A bidder will be able to
apply for the mainboard IPO in lots, and one lot of the book build issue comprises 135 company shares.
Giving a 'subscribe' tag for the long-term, Rajan Shinde, Research Analyst at Mehta Equities, said, "By looking at the
financials, the Company has delivered healthy growth, with revenue from operations rising 32.8% YoY in FY2024 and 23.3%
in FY2025, though profitability remains negative as the company continues to invest in growth and ecosystem expansion.
At the upper price band of Rs. 111, the issue is seeking a market capitalisation of Rs. 50,096 crore. Based on FY2025
actuals, the company is valued at approx ~5.3x Market-Cap to sales, and at around ~4.9x FY2026 annualised revenue, which
appears fairly priced relative to listed new-age tech peers."
Given its intense category penetration, rising MAUs, and structurally lower cost base compared to competitors, we
believe Meesho is well-positioned to sustain market share gains and improve profitability over the long term. Hence, we
recommend risk-seeking investors who want to capitalise India’s expanding e-commerce landscape to “SUBSCRIBE” Meesho Ltd
IPO for a long-term perspective only," Shinde added. Given its intense category penetration, rising MAUs, and
structurally lower cost base compared to competitors, we believe Meesho is well-positioned to sustain market share gains
and improve profitability over the long term. Hence, we recommend risk-seeking investors who want to capitalise India’s
expanding e-commerce landscape to “SUBCRIBE” Meesho Ltd IPO for a long-term perspective only," Shinde added.
Advising investors to apply for the Meesho IPO, Abhinav Tiwari, Research Analyst at Bonanza, said, "Meesho operates in a
highly competitive Indian e-commerce market with weaker fundamentals. Despite achieving 1.8 billion annual transactions
and a 5.3x FY25 PS valuation, Meesho reported adjusted EBITDA losses of Rs. 5,518 crore in H1 FY26. While the company
has recently achieved positive free cash flows, the path to sustainable profitability remains uncertain, with H1FY26
showing deteriorating contribution margins at 3.8% compared to 5.6% in FY24. The company faces intense competition from
established players Amazon and Flipkart while still burning capital on marketing and technology investments."
ICICI Direct, Marwadi Shares and Finance, SBI Securities, Master Capital Services, Swastika Investmart, and Ventura
Securities have also assigned a 'subscribe' tag to the Meesho IPO.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual
analysts or broking companies, not Mint. We advise investors to check with certified experts before making any