The latest grey market premium (GMP) for the Meesho IPO stood at Rs 46.5 per share on December 2. Compared to the upper end of the price band of Rs 111, the latest GMP indicates that the unlisted shares of the company were trading at Rs 157.5 per share. Shares of Meesho Ltd. are expected to list at a 41.89% premium over the issue price.
Meesho aims to raise Rs 5,421.2 crore through its IPO. The book-building issue comprises a fresh issuance of 38.29 crore shares, aggregating to Rs 4,250 crore and an offer-for-sale (OFS) of 10.55 crore shares, worth 1,171.2 crore.
The IPO price band has been fixed at Rs 105 to Rs 111 per share. The lot size for the IPO comprises 135 shares. Retail investors need to apply for at least one lot, with a minimum investment of Rs 14,985 per application.
Meesho Ltd., which became an Indian e-commerce heavyweight by selling Temu-like low-priced offerings, plans to deploy some of the proceeds from its $606 million initial public offering to penetrate smaller towns in the world’s biggest consumer market.
