Meesho Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹105 - ₹111
- Lot size
- 135 shares
- Issue amount
- ₹5,421.2 cr
- Total subscription
- 81.78×
- Opens
- 3 Dec 2025
- Closes
- 5 Dec 2025
- Allotment
- 8 Dec 2025
- Listing
- 10 Dec 2025
Offer at a glance
Issue overview
- Issue size
- 48,83,96,721 shares
- Face value
- ₹1 Per Share
- Minimum investment
- ₹14,175
- Fresh issue
- ₹4,250 cr
- Offer for sale
- ₹1,171.2 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,985
- Issue type
- Bookbuilding IPO
- Shares before issue
- 4,13,02,48,118
- Shares after issue
- 4,51,31,31,000
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail | 1 | 135 | ₹14,985 |
| sHNI | 14 | 1,890 | ₹2,09,790 |
| bHNI | 67 | 9,045 | ₹10,03,995 |
Share reservation
Subscription & GMP
Subscription by category
Reported 5 Dec 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 3,61,775 | 57,18,213 |
| HNIs(10L +) | 25,841 | 2,22,678 |
| HNIs (2-10L) | 12,921 | 3,98,160 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 1,626.36 | 2,00,596.34 |
| FIIs | 0 | 90,151.63 |
| FIs | 0 | 65,615.21 |
| Mutual Funds | 0 | 18,309.79 |
| Others | 0 | 26,519.72 |
| RETAIL | 542.12 | 10,809.75 |
| HNIs 2+ | 271.06 | 8,765.61 |
| HNIs 10+ | 542.12 | 23,658.7 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | -1.65 | -9.98 | -0.87 | -4.43 |
| ROE | 0 | 0 | 0 | 0 |
| ROCE | 0 | 0 | 0 | 0 |
| RONW | -72.32 | -252.37 | -14.24 | -65.61 |
| PRE IPO(PE) | 0 | -11.63 | 0 | 0 |
| POST IPO(PE) | -35.75 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Swiggy Limited | 0 | 0 | 1.00 | 40.98 | -30.5 | -13.72 |
| Brainbees Solutions Limited | 0 | 0 | 2.00 | 91.00 | -26.63 | -4.11 |
| FSN E-Commerce Ventures Limited | 1168.43 | 0 | 1.00 | 4.55 | 5.21 | 0.23 |
| Vishal Mega Mart Limited | 99.53 | 0 | 10.00 | 13.92 | 9.85 | 1.40 |
| Trent Limited | 100.87 | 0 | 1.00 | 153.64 | 27.93 | 43.51 |
| Avenue Supermarts Limited | 98.43 | 0 | 10.00 | 329.29 | 13.63 | 41.61 |
| Eternal Limited | 529.14 | 0 | 1.00 | 31.42 | 2.16 | 0.58 |
| Meesho Limited | -11.63 | 0 | 1.00 | 3.68 | -252.37 | -9.98 |
Company information
Company profile
Meesho Limited, founded in 2015, is a technology-driven e-commerce platform in India that connects consumers, sellers, logistics partners, and content creators through its marketplace app. It offers affordable products to customers while giving sellers a low-cost way to grow their business. The company operates two segments: its main marketplace, which earns revenue by providing services like order fulfillment, advertising, and seller tools, and new initiatives such as a budget-friendly logistics network for essentials and digital financial services. Meesho has seen strong growth, with a large and expanding base of active users and sellers across the country. Its logistics operations, managed under the brand Valmo along with third-party delivery partners, help ensure fast fulfillment throughout India. As of June 30, 2025, the company employed over 2,000 full-time staff and additional contract workers, continuing to focus on cost efficiency and technology-led innovation to strengthen and expand its digital ecosystem.
Strengths
- AI-Led & Tech-Intensive Operating Model: With a large technology workforce including strong AI/ML expertise, the company builds scalable systems that reduce costs and improve user experience, resulting in a high GMV-to-employee productivity ratio.
- India-Centric Platform Design: The application is optimized for diverse Indian users with a lightweight interface, multilingual access, and AI-enabled search and query resolution that handles a majority of customer concerns efficiently.
- Strong Innovation & Experimentation Engine: Its in-house platform enables rapid A/B testing and frequent feature rollouts, allowing continuous improvement and faster enhancement of platform capabilities.
Risk factors
- Reliance on External Logistics Providers: Heavy dependence on partnered delivery networks means any disruption or decline in logistics performance could impact timely deliveries, customer satisfaction, and overall business operations.
- Technology System Vulnerability: Platform outages, infrastructure failures, or delays in tech upgrades may weaken service stability and competitiveness, leading to negative effects on revenue and financial performance.
- Dependence on Third-Party Software Ecosystem: Reliance on external cloud platforms, licensed tools, and social media channels exposes the business to policy or access changes that could disrupt scalability, reduce user reach, and impact operational efficiency.
Promoters
Vidit Aatrey
Sanjeev Kumar
Registrar & documents
Lead manager
Kotak Mahindra Capital Company, J.P. Morgan India Private Limited, Morgan Stanley India Company Private Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
3rd Floor, Tower E, Helios Business Park, Chandana, Kadabeesanahalli Bengaluru, Karnataka, 560103
NA
[email protected]Company website ↗Understanding MEESHO IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.