Kickstarting the month with a public bidding that has the investors hooked onto, Meesho Ltd's initial public offering has hit the primary market.
The official window to apply for Meesho IPO opened on December 3 and will be open for public bidding till December 5. With an issue size of Rs 5,421.20 crore, Meesho IPO consists of both fresh issue of shares as well as an offer for sale (OFS).
IPO Details:
Investors can apply for the IPO for a minimum of 1 lot with 135 shares at a rate of Rs 14,175 per lot. The price range per share has been fixed at Rs 105-111.
After the subscription window has closed, the shares are expected to be allotted to the applicants on December 8 and the listing of shares is expected to take place on December 10.
Investors subscribing under the regular category can apply up to Rs 2,00,000. While high networth individuals can apply between Rs 2,00,000 to Rs 5,00,000.
As per the official website of the National Stock Exchange (NSE), Qualified Institutional Buyers subscribed 1.52 times their allotted share. Meanwhile, Non Institutional Investors and Retail Individual Investors subscribed 1.41 times and 3.45 times, respectively, resulting in an overall subscription of 1.84 times.
GMP details:
As per various media reports and analysts, the grey market premium (GMP) is between Rs 42-46 per share, hinting at a listing premium between 38-41 per cent.
For more information, visit the official website of NSE or BSE.
