The latest grey market premium (GMP) for the Meesho IPO stood at Rs 47.5 per share on December 5. Compared to the upper end of the price band of Rs 111, the latest GMP indicates an estimated listing price of Rs 158.5 apiece. Shares of Mesho Ltd. are expected to list at a 42.79% premium over the issue price.

The IPO has been subscribed 67.70 times as of 3:27 p.m. on Friday.

About Meesho IPO

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 set 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.

Kotak Mahindra Capital Co. Ltd is the book-running lead manager, and Kfin Technologies Ltd. is the registrar of the issue.

Use Of IPO Proceeds

The company will use Rs 1,390 crore from the proceeds to invest for cloud infrastructure, in Meesho Technologies Pvt. Ltd, its subsidiary, while Rs 480 crore will be used for payment of salaries of existing and replacement hires for the Machine Learning and AI and technology teams. The company will also allocate Rs 1,020 crore to marketing and brand initiatives in its subsidiary Meesho Technologies.