Meesho delivered a standout debut on Dalal Street on Wednesday, listing at a 46% premium over its IPO price, driven by strong demand across investor categories and improving financial performance.
The stock opened at ₹162.50 on the NSE, compared to the issue price band of ₹105–111 per share. On the BSE, it listed at ₹161.20, marking a 45% listing gain. With this, the company’s market capitalisation rose to ₹72,751 crore at the time of listing.
Market participants noted that Meesho’s debut surpassed grey market expectations, where the stock was pegged for a listing gain of around 39%, according to IPO Watch.
A Heavily Subscribed IPO
The ₹5,421-crore public offer attracted significant interest, being subscribed 79 times during the December 3–5 bidding window. On day one alone, it saw 2.35 times subscription, backed by strong participation from retail, institutional and non-institutional investors. Before the IPO opened to the public, the company had already raised ₹2,439 crore from anchor investors.
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Analysts: Buy, Sell or Hold?
Market experts remain optimistic about Meesho’s long-term prospects, particularly given its strong foothold in India’s value-conscious Tier-2 and Tier-3 markets — segments where global rivals like Amazon and Flipkart face challenges in deeper penetration.
Shivani Nyati, Head of Wealth at Swastika Investmart, highlighted that Meesho has become Free Cash Flow positive in FY25, despite reporting a net loss due to one-off adjustments. At a valuation near ₹50,000 crore, the stock trades at approximately 5.5× FY25 Price-to-Sales, notably lower than peers like Zomato, which often trades above 10× sales.
She noted that the company enjoys a “scarcity premium” as India’s only pure-play value-focused e-commerce stock.
Mahesh M Ojha, VP – Research & Business Development at Kantilal Chagganlal Securities, recommended that investors hold the stock for the medium to long term, citing rising user adoption, scalability and the company’s strong unit economics.
How Meesho Plans to Use IPO Funds
The company intends to channel the IPO proceeds into:
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Cloud infrastructure investments
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Brand-building and marketing initiatives
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Inorganic growth, including acquisitions and strategic partnerships
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General corporate needs
Market watchers believe that the fresh capital could strengthen Meesho’s competitive positioning as it continues to expand its marketplace and logistics ecosystem.
