Meesho shares drop 5% after executive exit; what's happening?
Meesho's stock slid 5% on Thursday, making it three days in a row of losses and bringing the price close to its original listing value.
The company has now lost over ₹40,000 crore in market value since its December debut.
Why does this matter?
Meesho's IPO was a big deal—it was oversubscribed 79 times and started trading at a strong 46% above its issue price.
But since hitting a high of ₹254.40 last month, the stock has dropped more than 35%, showing just how quickly things can change in the market.
What's behind the drop?
The recent fall is mostly because the IPO lock-in period ended, suddenly making nearly 11 crore shares available for trading and pushing prices down.
On top of that, senior executive Megha Agarwal just resigned, and her responsibilities are shifting to Milan Partani—so there's some leadership shake-up adding to investor nerves.