Meesho made a strong debut on the stock exchanges today and settled 53 per cent higher above the IPO price of ₹111 in early trade.
The stock opened at ₹162.50 on the NSE, a 46.3 per cent premium. On the BSE, it began trading at ₹161.20, marking a 45.2 per cent premium, reflecting solid investor appetite for the SoftBank-backed e-commerce firm.
It ended at ₹170.20 on the BSE, and at ₹170.09 on the NSE.
The stellar listing comes on the heels of a highly successful initial public offering.
Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, said that despite Meesho’s firm listing, investors remain watchful of rising competitive pressures from larger e-commerce incumbents, the need for regulatory clarity around deep discounting and small-seller protection, and the company’s challenge of sustaining profitability amid intense price-driven rivalry.
Nyati advised investors and traders who secured allotment to consider booking partial profits while retaining the remaining shares for medium to long-term gains. She added that maintaining a stop-loss around ₹130 could help manage potential near-term volatility.
According to Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, the listing surpassed expectation, and allotted investors with higher risk appetite may hold the stock for 12-18 months.
Choice Institutional Equities’ initiates coverage with buy rating at ₹200, 23% upside potential
Choice Institutional Equities, initiated coverage on Meesho with a buy rating and a target price of ₹200 (citing 23 per cent upside potential from the listing price), and said the platform is uniquely positioned to capture the next wave of value-driven e-commerce growth in India. The brokerage highlighted Meesho’s deep penetration in Tier-2 and Tier-3 markets, its zero-commission marketplace model, and the rapid scaling of its in-house logistics network Valmo, which together create a structurally lower cost base and strong network effects.
According to the broking firm, Meesho’s rising user base, improving unit economics, and accelerating path to profitability—supported by logistics efficiency, ad monetisation and AI-driven personalisation—provide a long runway for growth.
Choice Institutional Equities said Meesho is the most leveraged play on India’s expanding mass-market online consumer segment, benefiting from underpenetrated categories such as fashion, home and beauty. It noted that the company is on track to achieve EBITDA breakeven by FY27, with revenue expected to grow at 31 per cent CAGR through FY28. However, the brokerage flagged key risks, including rising competition from Amazon Bazaar and Flipkart’s Shopsy, a high share of cash-on-delivery orders and execution challenges in a fragmented logistics environment. Overall, it expects significant upside as Meesho scales profitably and its valuation catches up with peers.
IPO demand
The IPO demand was particularly strong among institutional players, with the qualified institutional buyers’ portion subscribed 120.18 times. Non-institutional investors bid 38.15 times the shares reserved for them, while the retail category saw 19.04 times subscription.
Ahead of the IPO launch, Meesho raised a little over ₹2,439 crore from anchor investors. The public issue, priced in the ₹105–111 band, valued the company at ₹50,096 crore at the upper end. The offering comprised a fresh issue of ₹4,250 crore and an OFS of 10.55 crore shares worth ₹1,171 crore.
Meesho to utilise the proceeds for scaling its cloud infrastructure, strengthening marketing and brand initiatives, pursuing inorganic growth through acquisitions and strategic investments, and for general corporate purposes.
The robust listing signals strong market confidence in Meesho’s business model and growth trajectory as it steps into its next phase as a publicly traded company.