Meesho IPO: GMP hints at strong listing. Check price band, financials - Should you bid?

Meesho IPO Sees Strong Interest, Grey Market Indicators Suggest 40% Listing Premium

SoftBank-backed e-commerce platform Meesho is witnessing strong investor interest ahead of its Rs 5,421-crore IPO, with grey market indicators suggesting the stock could list at nearly a 40% premium to the issue price of Rs 111 per share.

Key Highlights:

• Issue Size: Meesho's IPO includes a fresh issue of equity worth up to Rs 4,250 crore and an OFS of 10.55 crore shares by existing investors.
• Listing Date: The IPO opens on December 3 and will list on December 10, with the shares offered at a price band of Rs 105–111 apiece.
• Grey Market Indicators: Grey market indicators suggest the stock could list at nearly a 40% premium to the issue price of Rs 111 per share.
• Proceeds: Funds raised via the fresh issue will be used to scale Meesho’s platform, strengthen its technology infrastructure, and enhance marketplace capabilities.
• Lead Managers: The IPO is being managed by a consortium of investment banks, including Kotak Mahindra Capital, J.P. Morgan, Morgan Stanley, Axis Capital and Citigroup.

Should You Subscribe?

Meesho has established a solid, defensible position in India’s value-driven e-commerce segment, backed by strong scale, rising user engagement, and steadily improving unit economics. Analysts note that while near-term profitability remains uncertain, the long-term story is compelling.

India's Retail Market Growth:

• Expected Growth: India's retail market is expected to expand from Rs 83 lakh crore to nearly Rs 135 lakh crore by FY30, even as e-commerce grows at a robust 20–25% CAGR.
• Penetration: Penetration in non-electronics categories remains low at around 5%, highlighting significant headroom for future growth.

Meesho Financials:

• Revenue Growth: Meesho's Revenue grew from Rs 5,730 crore in FY23 to Rs 9,390 crore in FY25, supported by higher order frequency, expanding seller services and better fulfilment efficiency.
• User and Order Growth: User and order growth continue to be a bright spot, with annual transacting users climbing to 234.2 million and orders surging to 1,261.14 million during the six months ended September 30, 2025.

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