Meesho IPO Price Band Fixed at ₹105–₹111 Per Share; Subscription Opens December 3

SoftBank-backed e-commerce platform Meesho has set its initial public offering (IPO) price band between ₹105 and ₹111 per equity share of face value Re 1. The IPO subscription will be open from Wednesday, December 3, to Friday, December 5, while allocation to anchor investors is scheduled for Tuesday, December 2. Investors can apply in a lot size of 135 shares and multiples thereof.

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IPO Allocation

Qualified Institutional Buyers (QIBs): Minimum 75% of shares
Non-Institutional Investors (NIIs): Maximum 15% of shares
Retail Investors: Maximum 10% of shares

The basis of allotment is expected to be finalized on Monday, December 8, with refunds initiated on Tuesday, December 9, and shares credited to demat accounts the same day. Meesho shares are likely to list on BSE and NSE on Wednesday, December 10.

Offer Details

Meesho aims to raise ₹4,250 crore via fresh share sale, while public shareholders will sell 10.55 crore shares via an offer-for-sale. Promoters hold 18.5%, while public shareholders own 81.5%. Major shareholders include:

Elevation Capital: 15.11%
Prosus’ Naspers Ventures: 12.34%
Peak XV Partners: 11.3%
SoftBank-owned SVF II Meerkat: 9.3%
WestBridge Crossover Fund: 3.92%

Use of Proceeds

₹1,390 crore: Enhancing cloud infrastructure at subsidiary Meesho Technologies
₹1,020 crore: Marketing and branding for Meesho Technologies
₹480 crore: Salaries for current employees and new hires in AI & Machine Learning teams
Remaining funds: Inorganic growth and general corporate purposes

Company Background

Founded by Vidit Aatrey and Sanjeev Kumar, Meesho claims to be the largest e-commerce platform in India in terms of orders placed and annual transacting users over the last 12 months. Listed peers include Eternal, Swiggy, Brainbees Solutions, Nykaa, Vishal Mega Mart, Trent, and DMart.

Financial Performance

For the six months ending September 2025, Meesho reduced its losses to ₹700.7 crore from ₹2,512.9 crore in the same period last year. Revenue increased 29.4% to ₹5,577.5 crore, up from ₹4,311.3 crore.

IPO Managers and Registrar

The IPO is managed by Kotak Mahindra Capital, JP Morgan India, Morgan Stanley India, Axis Capital, and Citigroup Global Markets India, with Kfin Technologies Ltd. serving as the registrar.

This IPO is expected to be closely watched, given Meesho’s strong growth trajectory and backing from leading global investors.