Meesho shares up 7% in two sessions; Here's why Monday's session is important

As per Nuvama Alternative and Quantitative Research, nearly 109.9 million shares, or 2% of the company's outstanding equity, will become eligible for trading once the lock-in period ends on Monday. By Meghna Sen Shares of e-commerce company Meesho Ltd. are trading with gains on Friday, March 6. The stock has risen 7% over the last two trading sessions. At the current market price, the stock is trading nearly 45% above its IPO price of ₹111 per share. About 9.56 lakh shares of Meesho changed hands during Friday's trading session. According to Nuvama Alternative and Quantitative Research, nearly 109.9 million shares, or 2% of the company's outstanding equity, will become eligible for trading once the lock-in period ends on Monday. However, the end of the lock-in period does not imply that all such shares will be sold in the open market, but only that they become eligible to be traded. The SoftBank-backed e-commerce platform made a strong market debut on December 10, listing at a premium to the issue price and ending its first trading session 53% higher. Meesho's ₹5,000 crore-plus public issue had seen robust demand across investor categories, with the IPO subscribed 79 times overall. The retail portion was subscribed over 19 times, while the qualified institutional buyers segment saw subscriptions of 120 times. Of the five analysts covering Meesho, two have a 'Buy' rating, two have a 'Hold' rating, and one has a 'Sell' recommendation on the stock. Shares of Meesho are trading 0.37% higher today at ₹159.28. The stock is down over 12% on a year-to-date basis. Note To Readers Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.