Meesho Secures Rs 2,439 Crore from Anchor Investors for IPO
Meesho, an e-commerce marketplace backed by SoftBank, has successfully secured Rs 2,439 crore from anchor investors at the upper price band of Rs 111 per share, in preparation for its initial public offering. The anchor book attracted bids totalling nearly Rs 80,000 crore, reflecting an impressive oversubscription rate of approximately 32X.
As stated in the company’s filing with the stock exchanges, a total of 21.97 crore equity shares were allocated to anchor investors at the price of Rs 111 per share for the mentioned amount. Of this anchor allocation, 9.37 crore shares, which is 43.6%, were distributed among 14 domestic mutual funds across 52 schemes, raising Rs 867 crore.
High-Calibre Investors in the Anchor List
The anchor list includes a diverse array of significant domestic and international investors, such as SBI Mutual Fund, Tiger Global, BlackRock, and the Abu Dhabi Investment Authority (ADIA), among various notable long-only funds. The strong demand reflects Meesho’s strategy of presenting itself as a profitable, asset-light alternative compared to traditional e-commerce competitors.
Participation from Other Notable Investors
Other prominent investors including GIC, Fidelity International, Fidelity Management & Research, Baillie Gifford, Wellington, and Goldman Sachs Asset Management also expressed their intent to be part of the anchor round.
IPO Subscription Details
The Bengaluru-based company is set to open its IPO for subscription on December 3 and will close it on December 5. The issue comprises a fresh issuance of Rs 4,250 crore alongside an Offer for Sale (OFS) of 10.55 crore shares from early backers and some of the founders. Investors such as Elevation Capital, Peak XV Partners, and Venture Highway will partially exit via the OFS.
Financial Performance Overview
In the previous fiscal year, the firm reported a revenue of Rs 9,390 crore, while its losses before exceptional items and tax amounted to Rs 108 crore during the same timeframe. For the first half of the ongoing fiscal year (H1 FY26), Meesho reported a revenue of Rs 5,577 crore.