Meesho's IPO allotment today: How to check status online
What's the story
Meesho, the SoftBank-backed e-commerce platform, is all set to finalize its initial public offering (IPO) allotment today. The company's ₹5,421.20 crore IPO received an overwhelming response from investors across all categories. The bid finalization details will be available on the websites of National Stock Exchange (NSE), Bombay Stock Exchange (BSE), and KFin Technologies.
Subscription details
Meesho's IPO oversubscribed 79 times
Meesho's IPO was oversubscribed by a whopping 79.03 times, receiving bids for over 2,197 crore shares against the 27.79 crore shares on offer. The issue comprised a fresh issue of shares worth ₹4,250 crore and an offer for sale (OFS) of ₹1,171.20 crore. The price band for the share sale was set between ₹105 and ₹111 per share.
Key dates
IPO allotment status and listing date
The allotment status for Meesho's IPO can be checked on the NSE and BSE websites. To do this, investors need to select 'Meesho Ltd' from the 'Issue Name' dropdown menu, and enter their application number or PAN details before hitting the 'Search' button. The company's shares will be listed on both exchanges on Wednesday at 10:00am.
Market performance
IPO GMP and expert recommendations
As of today, Meesho's unlisted shares are trading at ₹153, a gray market premium of 37.84% over the upper price band of ₹111. The firm's path to sustainable profitability will be crucial as it invests in technology, marketing, and talent. ICICI Direct has recommended subscribing to the IPO due to Meesho's improving operating profile and rapidly growing user base.