Meesho bags Rs 2,439 Cr from anchor investors; demand jumps 32X

SoftBank-backed e-commerce marketplace Meesho has raised Rs 2,439 crore from anchor investors at the upper price band of Rs 111 per share, ahead of its initial public offering. The anchor book received bids worth nearly Rs 80,000 crore, indicating an oversubscription of around 32X.

According to the company’s filing with the stock exchanges, 21.97 crore equity shares were allotted to anchor investors at Rs 111 per share for the abovementioned amount. Out of the total anchor portion, 9.37 crore shares (43.6%) were allocated to 14 domestic mutual funds across 52 schemes, raising Rs 867 crore.

The anchor list features a mix of domestic and global heavyweights, including SBI Mutual Fund, Tiger Global, BlackRock, Abu Dhabi Investment Authority (ADIA), and several marquee long-only funds. The overwhelming demand arrives as Meesho continues to position itself as a profitable, asset-light alternative to traditional e-commerce peers.

Other investors, including GIC, Fidelity International, Fidelity Management & Research, Baillie Gifford, Wellington, and Goldman Sachs Asset Management, also bid to participate in the anchor round.

The Bengaluru-based firm will open its IPO for subscription on December 3 and close it on December 5. The issue comprises a fresh issuance of Rs 4,250 crore and an Offer for Sale (OFS) of 10.55 crore shares by early backers and some founders. Investors such as Elevation Capital, Peak XV Partners, Venture Highway, and others will partially exit through the OFS.

During the last fiscal year, the company posted revenue of Rs 9,390 crore, while its losses before exceptional items and tax stood at Rs 108 crore in the same period. In the first half of the ongoing fiscal year (H1 FY26), it reported revenue of Rs 5,577 crore.