E-commerce marketplace Meesho’s initial public offering (IPO) witnessed robust investor demand, ending with 79X overall subscription, driven by overwhelming participation from institutional investors. The QIB quota was subscribed 120X, followed by 38.14X from Non-Institutional Investors (NIIs). The retail portion also saw solid traction at 19X, underscoring strong investor confidence.
Subscription Window and Issue Structure
The IPO was open from December 3 to 5 with a price band of ₹105–111 per share. The minimum application value was ₹14,175. Share allotment is scheduled for December 8, and Meesho will debut on the BSE and NSE on December 10.
The issue comprises a ₹4,250 crore fresh raise and an Offer for Sale (OFS) of 10.55 crore shares worth ₹1,171 crore, allowing early backers and founders to partially monetise their holdings.
Stellar Returns for Early Investors
According to Entrackr, Elevation Capital’s OFS is valued at ₹271 crore, translating into a 36.5X return. Peak XV Partners’ OFS fetches ₹193 crore with a 26X return, while Y Combinator is set to record a remarkable 108.8X gain, making it one of the most successful VC outcomes in the Indian startup ecosystem.
Anchor Book Boosts Momentum
Earlier this week, Meesho raised ₹2,439 crore from anchor investors at the upper band of ₹111. The anchor list included SBI Mutual Fund, Tiger Global, BlackRock, ADIA, and several long-only global funds, further validating institutional appetite.
Business Performance and Revenue Growth
In FY25, Meesho reported ₹9,390 crore in revenue, with losses before exceptional items and tax at ₹108 crore. For H1 FY26, revenue stood at ₹5,577 crore, indicating continued momentum across categories and user cohorts.
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