Meesho IPO
Meesho Limited (MEESHO) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 10 December 2025.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +41.8% (likely range +12% to +115%), day's high +54.1%, chance of a gain 95%. Actual: +46.4% at the open, +59.9% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 15,03,69,511 | 18,07,17,42,600 | 120x | |
| NII (HNI) total | 7,65,41,361 | 2,92,11,08,400 | 38.2x | |
| Big NII (above ₹10 lakh) | 5,10,27,574 | 2,13,14,14,155 | 41.8x | |
| Small NII (₹2-10 lakh) | 2,55,13,787 | 78,96,94,245 | 31.0x | |
| Retail | 5,10,27,574 | 97,38,49,770 | 19.1x | |
| Total | 27,79,38,446 | 21,96,67,00,770 | 79.0x |
Bids on NSE and BSE together, as published by NSE, as of 05 Dec 2025, 07:00 PM. Shares offered exclude the anchor portion. 4% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Meesho's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Akums Drugs and PharmaceuticalsAug 2024 | 90.1x | 42.2x | 21.3x | 63.6x | ₹1,858 Cr | +6.8% | +17.4% |
| TBO TekMay 2024 | 126x | 50.6x | 25.7x | 86.7x | ₹1,551 Cr | +55.0% | +58.3% |
| Tata TechnologiesNov 2023 | 203x | 62.1x | 16.5x | 69.4x | ₹3,043 Cr | +140.0% | +180.0% |
| INOX IndiaDec 2023 | 148x | 53.2x | 15.3x | 61.3x | ₹1,459 Cr | +43.9% | +50.0% |
| Inventurus Knowledge SolutionsDec 2024 | 80.6x | 23.3x | 14.7x | 52.7x | ₹2,498 Cr | +43.0% | +52.8% |
| Waaree EnergiesOct 2024 | 209x | 62.5x | 10.8x | 76.3x | ₹4,484 Cr | +66.3% | +74.6% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| J.P. Morgan India | 27 | +17.4% | 74% |
| Morgan Stanley India Company | 24 | +13.9% | 67% |
| Axis Capital | 107 | +20.4% | 73% |
| Citigroup Global Markets India | 35 | +14.2% | 63% |
Offer documents (NSE)
Frequently asked
What is the Meesho IPO price band and lot size? ₹105–111 per share, with a lot of 135 shares, so the smallest retail bid is ₹14,985.
How many times has it been subscribed? 79.0x overall: QIB 120x, NII 38.2x, retail 19.1x.
How did it list? It opened at ₹162, +46.4% against the issue price of ₹111, and closed its first day +53.2%.
