Meesho IPO Draws Record-Breaking ₹2.5 Trillion in Bids
Indian e-commerce major Meesho (MEES.NS) has emerged as one of the most sought-after public issues in the country, receiving bids worth about ₹2.5 trillion ($27.79 billion) for its $604 million IPO. The offering, which closed on Friday, saw overwhelming participation from qualified institutional buyers, who placed bids worth nearly ₹2 trillion, oversubscribing their quota by 120.2 times, according to exchange data.
The total bids — including $270 million from anchor investors — rank Meesho’s IPO among India’s biggest, behind only Reliance Power, LG Electronics India, and Bajaj Housing Finance, as per Prime Database. Backed by SoftBank and Peak XV Partners, Meesho joins a wave of tech-driven companies such as Groww, Lenskart, and PhysicsWallah that debuted amid what is set to be a record IPO fundraising year for India, surpassing 2024’s $20.5 billion. Analysts say the overwhelming interest reflects strong confidence in scalable, consumer-centric digital businesses despite short-term profitability concerns.
Meesho’s financials further boosted sentiment, with revenue rising 29.4% to ₹55.78 billion in the first half of FY26 and losses narrowing 72.1% to ₹7 billion, according to its prospectus. Non-institutional investors oversubscribed their portion by 38 times, while retail investors bid 19 times their allocated shares. The company’s stock is set to begin trading on Indian exchanges next week.
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