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The initial public offering (IPO) of Meesho Ltd. continued to draw strong investor participation on the second day of bidding, with both subscriptions and the grey market premium (GMP) showing strength. The IPO, which opened on December 3, 2025, will remain open for subscription until December 5, 2025.
In the unlisted market, GMP is at Rs. 51, an increase from yesterday’s premium of Rs. 47. Over the past two days, the GMP has climbed from Rs. 42 to Rs. 51, a rise that analysts believe is directly linked to the strong subscription numbers.
Meesho IPO subscribed 3.68 times. The public issue subscribed 6.69 times in the retail category, 2.19 times in QIB (Ex Anchor), and 4.65 times in the NII category by December 4, 2025, 12:10 PM.
The issue had received 98.82 crore bids compared to the available 26.86 crore shares, showing broad-based investor enthusiasm.
Meesho has set the IPO price band at Rs. 105 to Rs. 111 per share. The company aims to raise Rs. 5,421.20 crore through the issue.
A total of Rs. 4,250 crore will be raised through a fresh issue of shares, while the remaining Rs. 1,171.20 crore will come through the Offer for Sale.
The IPO will be listed on both the BSE and NSE. Investors must apply for lots of 135 shares each. The IPO allotment is expected on December 8, 2025, and the listing is likely to take place on December 10.
According to Rajan Shinde from Mehta Equities, Meesho's growth strategy will enable it to grow its market share and make a significant long-term growth investment due to its strong revenue growth, expanding market reach and attractive valuation.
He notes that Meesho reported annual revenue growth of 32.8% during FY24 and 23.3% in FY25, and is currently valued at around 5.3 times its market-cap-to-sales ratio and nearly 4.9 times its FY26 annualised revenue.
Abhinav Tiwari from Bonanza also advises investors to apply, but highlights that while Meesho recently achieved positive free cash flow, the company still faces competition from Amazon and Flipkart.
He cautioned that profitability remains uncertain in the near term, especially since Meesho posted significant adjusted EBITDA losses in H1 FY26.
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Meesho intends to use the fresh capital to expand its cloud infrastructure to support the rapid growth of its platform. The company also plans to increase investment in marketing and brand development.
In addition, Meesho will be allocating funds for possible acquisitions and investments in strategic initiatives to accelerate Meesho's long-term expansion.
