• Meesho’s IPO oversubscribed 79 times, driven by strong institutional demand.
• Qualified Institutional Buyers (QIBs) led with 120x subscription; retail investors showed 19x interest.
• Early backers and founders partially exit via Offer for Sale (OFS), booking multi-fold returns.

E-commerce marketplace Meesho’s initial public offering (IPO) witnessed overwhelming demand, with the overall issue subscribed 79 times. Institutional investors led the charge, while retail participation also saw strong traction.

Data from exchanges showed Qualified Institutional Buyers (QIBs) subscribed over 120 times, while Non-Institutional Investors (NIIs) recorded 38.14 times subscription. Retail investors were not far behind, with their quota subscribed 19 times. The IPO was priced between Rs 105-111 per share, with a minimum investment of Rs 14,175. Share allotment is expected on December 8, and Meesho will list on the BSE and NSE on December 10.

The issue comprises a fresh fundraise of Rs 4,250 crore and an Offer for Sale (OFS) of 10.55 crore shares worth Rs 1,171 crore by early investors and some founders. Among them, Elevation Capital’s OFS stake is valued at Rs 271 crore, reflecting a 36.5X return, Peak XV Partners’ stake is worth Rs 193 crore with a 26X return, and Y Combinator stands to gain a staggering 108.8X return.

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Ahead of the IPO, Meesho raised Rs 2,439 crore from anchor investors including SBI Mutual Fund, Tiger Global, BlackRock, and ADIA at the upper price band. The company posted revenue of Rs 9,390 crore in FY25, with losses of Rs 108 crore before exceptional items and taxes. In H1 FY26, Meesho reported revenue of Rs 5,577 crore, highlighting steady growth in its marketplace operations.