Double In A Week: Meesho Stock Rockets 112% Since Dec 10 Debut

Shares of e-commerce firm Meesho have soared over 112% from the issue price of Rs 111 since its listing on December 10, making it one of the most successful IPOs of the year. The sharp rally reflects strong investor demand and confidence in the company’s growth prospects.

On Thursday, Meesho’s stock jumped 8.85% to close at Rs 235.50 on the BSE, following a 20% surge in the previous session. Over the last four trading days, the shares have gained 42.55%, continuing their upward momentum since debut.

From its issue price of Rs 111 per share, the stock has now climbed 112.16%, giving the company a market valuation of Rs 1,06,284.24 crore. Meesho made a strong debut last week, ending its first day of trade with a 53% premium over the issue price.

The company’s Rs 5,421-crore initial public offering, which had a price band of Rs 105-111 per share, received an overwhelming response from investors earlier this month, with 79 times subscription.

The robust demand during the IPO and subsequent rally in the secondary market underline the growing investor appetite for e-commerce businesses in India.

Meesho’s stellar performance comes amid heightened interest in technology-driven consumer platforms, as investors bet on the long-term growth potential of India’s digital economy. The company’s ability to sustain this momentum will be closely watched in the coming weeks as market participants assess its fundamentals and future expansion plans.

(With inputs from PTI)