NEW DELHI: Meesho has delivered one of the best listing gains for a large-sized IPO (above Rs 5,000 crore issue size) in calendar year 2025. The e-commerce platform made a stellar debut on the exchanges on Wednesday, with its shares trading at a 46.4% premium over the initial public offer (IPO) price.
On the BSE, the stock was listed at Rs 161.20 per share, a premium of 45.23%, while on the NSE, it was listed at Rs 162.50, a premium of 46.4%.So far in 2025, only seven IPOs with an issue size exceeding Rs 5,000 crore have been launched. LG Electronics’ Rs 11,670 crore IPO leads the listing gains chart by debuting at a 50% premium over its issue price. HDB Financial Services ranks second with a listing gain of 12.8%, followed by Groww in third place with a gain of 12%.
By contrast, Tata Capital — which launched the largest IPO of 2025 at Rs 15,512 crore — managed a modest 1.25% premium on listing, while Hexaware Technologies opened 5.3% higher. Among the major issues, Lenskart Solutions was the only one to list at a discount. Meesho, backed by SoftBank, floated a Rs 5,421-crore IPO priced in the Rs 105–111 range, valuing the company at Rs 50,096 crore at the upper end.
Post-listing, Meesho shares rose 5% to close at Rs 170.45, pushing market cap to Rs 76,926 crore. Shivani Nyati, Head of Wealth at Swastika Investmart said that the strong listing highlights robust investor appetite for India’s fast-growing digital commerce ecosystem and confidence in Meesho’s unique “zero-commission” marketplace model.
Nyati added that Meesho’s strengths include its large and engaged user base, competitive pricing advantage due to the lowest seller commissions in the industry, efficient technology-led marketplace operations, and a rapidly improving path to profitability.
However, despite the successful debut, investors remain cautious about rising competitive pressures from large incumbents, regulatory clarity around deep discounting and small-seller protection, and the need for Meesho to sustain profitability amidst intense price wars.
“Investors/traders who received allotment may consider booking partial profits while holding the remaining position for medium to long-term gains, keeping a stop-loss around Rs 130 to manage potential volatility,” she said. The strong debut of Meesho comes even as the broader equity market has come under a bearish grip. Benchmark stock indices Sensex and Nifty declined for the third straight day on Wednesday to close at a nearly month’s low.
In a volatile session, the 30-share BSE Sensex dropped by 275.01 points, or 0.32%, to settle at 84,391.27, a level not seen since November 11. The 50-share NSE Nifty fell by 81.65 points, or 0.32%, to close at a month's low of 25,758.Before the market debut, Meesho’s shares were commanding a premium of up to 35% in the unofficial grey market.
The IPO generated massive interest from primary market investors as the issue was subscribed 79.02 times on the final day of bidding. The company raised a little over Rs 2,439 crore from anchor investors.
Most analysts had given a buy rating to the issue.
“Meesho’s focus on affordability and frequency creates a structural moat that is difficult for traditional e-commerce players to replicate. At 4.5x Price/Sales (Q2FY26 annualized & diluted), valuations look reasonable compared to other e-commerce players (average 7x P/S); Hence, we recommend investors to ‘Subscribe’ to the issue,” said Motilal Oswal Financial Services.