Meesho
Meesho’s wild ride: Hits record market cap, then suddenly slides
Mumbai/IBNS: E-commerce major Meesho surged as much as 7.9% on Thursday to hit a new high of ₹233.50, just a week after making its stock market debut, media reports said.
The rally briefly took Meesho’s market capitalisation past the ₹1 lakh crore mark, driven by heavy buying interest. However, the stock later pared gains and slipped into the red after breaching the milestone.
Meesho had made a strong debut on December 10, with its shares listing at a 46% premium over the IPO issue price of ₹111 per share, reflecting robust investor demand.
Ahead of its listing, the Bengaluru-based company witnessed strong activity in the grey market, with the grey market premium (GMP) ranging between ₹35–36 per share and rising further to ₹42–44 during the bidding phase.
The company’s IPO was open for subscription from December 3 to December 5, with shares offered in a price band of ₹105–111 per share and a lot size of 134 shares.
The strong listing and subsequent rally underscored investor confidence in Meesho’s growth prospects.
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