India-based e-commerce platform Meesho has secured a substantial anchor investor allotment of approximately ₹2,439 crore ahead of its upcoming initial public offering (IPO). According to the company’s filing, more than 60 institutional investors participated in the anchor round, reflecting robust demand and confidence ahead of the public share sale.
Key Highlights
- Meesho secures ₹2,439 crore from over 60 anchor investors, signalling strong institutional confidence before IPO.
- Anchor book oversubscribed nearly 30 times as global giants like BlackRock and Fidelity back Meesho.
Meesho allocated roughly 21.98 crore shares at an allotment price of ₹111 per share to these anchor investors. The anchor book witnessed bids exceeding ₹80,000 crore, translating into nearly 30 times oversubscription—an indication of strong market appetite for the company’s IPO.
Prominent global investors such as BlackRock, Fidelity, Tiger Global, Goldman Sachs, and Morgan Stanley participated, alongside domestic institutions including major mutual funds such as SBI Mutual Fund and other leading asset-managers. On the domestic front, SBI Mutual Fund schemes — including its Balanced Advantage Fund, Focused Fund and Innovative Opportunities Fund — obtained meaningful shares of the anchor allotment.
Meesho has set its IPO price band between ₹105 and ₹111 per equity share and is targeting to raise around ₹5,421 crore via a combined fresh issue and offer-for-sale (OFS). The company’s upper-end valuation is in the region of ~₹50,096 crore (approximately US $5.6 billion) under the proposed listing terms.
Also Read: Meesho Sets IPO Price Band at Rs 105-111, Issue Opens December 3
Crucially, Meesho’s mobilisation from anchor investors is a critical step in its path to listing, bolstering the IPO’s credentials, providing a valuation benchmark, and signalling strong institutional backing. This momentum is expected to build further ahead of the subscription windows, and the company’s transaction also underscores renewed investor interest in Indian tech start-ups going public.
