Meesho IPO day 3: GMP jumps! Subscription status, date, price to review. Apply or not? | Stock Market News

Meesho IPO day 3: The initial public offering (IPO) of Meesho Ltd. hit the Indian primary market on December 3, 2025, and the issue will remain open until December 5, 2025. This means investors have just one day to apply for the Meesho IPO. The e-commerce company that operates on a zero-business model has declared the Meesho IPO price band at ₹105 to ₹111 per equity share. The public issue is a combination of a fresh issue and an offer for sale (OFS). The company aims to raise ₹5,421.20 crore, out of which ₹4,250 crore is intended to be raised through the issuance of fresh shares. The remaining ₹1,171.20 crore is reserved for the OFS route. Meesho IPO is proposed for listing on the BSE and the NSE.

According to market observers, shares of Meesho Ltd. are available in the grey market at a powerful premium. They said that Meesho shares are available at a premium of ₹53 in the grey market today, which is ₹2 higher than yesterday’s Meesho ipo gmp (Grey Market Premium) of ₹51. Over the last three days, the Meesho IPO GMP has increased from ₹42 to ₹53 today. According to market observers, the rise in the Meesho IPO GMP today can be attributed to the strong Meesho IPO subscription status. The public issue worth ₹5,421.20 crore had been booked 7.97 times after the end of the first day’s bidding.

Meesho IPO subscription status

After the end of bidding on day 2, the public issue had been subscribed to 7.97 times, the retail portion had been booked 9.14 times, and the NII segment had been subscribed to 9.18 times, whereas the QIB portion had been subscribed to 6.96 times.

As mentioned above, the Meesho IPO subscription period will remain open until December 5, 2025. So, investors have just one day to apply for the public issue. The e-commerce company has announced the Meesho IPO price band at ₹105 to ₹111 per share. The most likely Meesho IPO allotment date is 6 December 2025. However, in the case of a delay due to Saturday falling on 6 December 2025, the most likely Meesho IPO allotment date will be 8 December 2025. A bidder will be able to apply for the mainboard IPO in lots, and one lot of the book build issue comprises 135 company shares.

Meesho IPO review

Giving a ‘subscribe’ tag to the public issue, Anand Rathi says, “On the valuation front, based on FY25 earnings, the company is seeking a Mcap to Sales ratio of 5.5 times and a post-issue market capitalisation of approximately ₹5,00,958 million, making the issue appear to be richly priced. We believe the company remains in an investment phase, posting a restated loss of ₹39,417 million in FY25; however, adjusted EBITDA improved, and free cash flow turned positive, signalling strengthening operating discipline. With the e-commerce sector continuing to grow in value, Meesho’s path to profitability hinges on sustained cost optimisation and marketing efficiency. While competitive and regulatory pressures persist, the company’s scale gains and operational focus position it well for gradual margin improvement. Hence, we assign Subscribe for long-term only rating for the issue.”

Nirmal Bang has also assigned an ‘apply’ tag to the public issue, saying, “Meesho has created a strong foothold in the tier 2/3 cities’ ecommerce business with its unique proposition of zero commission asset light business model resulting in low affordable products ecosystem benefitting sellers, consumers, content creators and logistics players in non-metro cities. The company, however, is yet to post profits; although it has turned free cash flow positive in FY25. The company has reported EBITDA losses of Rs. 579 crore and Rs. 693 crore in FY25/H1FY26, respectively. Meesho continues to make strategic investments in technology and logistics, which we believe will lead to sustainable profitability in the years to come. Issue at upper price band is available at 5.7x FY25 Price/Sales, which looks reasonable and hence recommend ‘Subscribe’ to the issue.”

ICICI Direct, Marwadi Shares and Finance, SBI Securities, Master Capital Services, Mehta Equities, Swastika Investmart, and Ventura Securities have also assigned a ‘subscribe’ tag to the Meesho IPO.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.