New Delhi. The IPO of e-commerce company Meesho will open today. Before the opening of the issue, the company has raised more than Rs 2,439 crore from anchor investors. A total of 60 investors participated in the anchor round. Big investors like SBI Mutual Fund, Fidelity Funds and BlackRock were involved in this. Even in the gray market, unlisted shares of Meesho are getting good response and they are trading at 42 percent premium. Investors will be able to invest money in this IPO till December 5. Meesho is a fast-growing company in the e-commerce segment, which has carved a niche for itself in the market in a very short time, competing with giants like Amazon and Flipkart.
The company said that a total of 60 investors participated in the anchor round, including big international names like the Government of Singapore, Monetary Authority of Singapore, Tiger Global, Goldman Sachs and Morgan Stanley. At the same time, SBI MF, UTI MF, Tata MF, Axis MF and Motilal Oswal MF are prominent among the domestic investors. Meesho allotted a total of 21.97 crore shares to anchor investors at the rate of ₹111 per share.
Meesho IPO Price Band
The price band for this IPO of Meesho has been fixed at Rs 105 to Rs 111 per share and there are 135 shares in one lot. This means that any investor will have to bid for at least this many shares. According to the upper price band, a minimum investment of Rs 14,985 will have to be made for this. Meesho will issue a fresh issue of Rs 4,250 crore, while existing shareholders will sell shares worth Rs 1,170 crore through OFS.
GMP of Meesho IPO becomes Rs 47
Meesho IPO is making waves in the grey-market. According to IPOWatch.in, a gray market tracking website, shares of Meesho IPO are currently trading at a premium of Rs 47 in the gray market. This means that investors can get 42% listing gain on the upper price band. This means that those who invest money can get huge benefits.
Should you invest money in Meesho IPO?
According to a report by Moneycontrol, brokerage firm FundsIndia has advised to invest in Meesho’s IPO. He has said that the company’s user growth is good. However, it is still in loss. Meesho is India’s largest e-commerce platform in terms of placed orders and annual transacting users. It has good penetration in Tier-2 and Tier-3 markets.
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