Meesho IPO Day 2 Highlights: Meesho IPO opened for subscription on Tuesday, December 3. The issue has so far been subscribed over 2.46 times on the first day of bidding.
The Meesho IPO, valued at ₹5,421 crore, comprises a fresh issue of 38.29 crore shares totaling ₹4,250 crore and an offer for sale of 10.55 crore shares amounting to ₹1,171.20 crore.
The IPO price band has been set between ₹105 and ₹111 per share. Retail investors must apply for at least one lot of 135 shares and can apply for up to 13 lots. At the top end of the price band, ₹111 per share, the minimum investment for a single lot comes to ₹14,985.
The company intends to allocate its IPO funds across several areas: ₹480 crore for compensation of AI and technology teams at its subsidiary Meesho Technologies Private Limited (MTPL), ₹1,390 crore for cloud infrastructure, and ₹1,020 crore for marketing and brand-building activities. It will also use a portion of the proceeds for acquisitions, strategic projects, and general corporate needs.
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