Meesho IPO Day 3: GMP Jumps and Subscription Status Highlights

Meesho IPO Day 3: GMP Jumps and Subscription Status Highlights

The Meesho initial public offering (IPO) has rapidly captured investor attention, emerging as one of the most discussed equity issues in the Indian primary market. As bidding progresses into Day 3, retail and institutional investors are closely tracking market sentiment, especially the grey market premium (GMP) and subscription momentum. With rising interest from both small and large market participants, the Meesho IPO has positioned itself as a compelling market event with substantial trading activity and public response.

Grey Market Premium (GMP Surge)

Meesho IPO is witnessing robust traction in the grey market. According to market observers, shares of Meesho Ltd. are presently trading at a premium of ₹53. This marks a ₹2 increase compared to the previous day’s GMP of ₹51. In the last three sessions, the IPO’s GMP has climbed steadily from ₹42 to ₹53, indicating increased demand and heightened anticipation of a favorable listing. Such systematic movement often suggests traders are expecting lucrative listing gains, although it is not a guaranteed indicator of actual performance.

Grey market premium reflects how IPO shares trade in unofficial markets before listing. The rise in premium suggests that investors believe Meesho’s issue pricing leaves room for upside potential. The momentum observed in the GMP aligns with strong subscription levels recorded across investor categories, indicating resonance between speculative appetite and actual market participation.

IPO Opening and Closing Dates

The Meesho IPO commenced on December 3, 2025, and will conclude on December 5, 2025. Investors now have only one more day to submit their bids, prompting accelerated decision-making among those eyeing exposure to India’s fast-expanding e-commerce ecosystem. With the clock ticking, market sentiment suggests heightened participation as investors seek to capitalize on perceived listing opportunities.

The IPO aims to raise ₹5,421.20 crore in total. Of this amount, ₹4,250 crore will be generated through a fresh equity issue, while ₹1,171.20 crore will be raised via the offer for sale (OFS) route. The company plans to list its equity shares on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), enabling widespread investor access once trading begins.

Price Band and Lot Size

The Meesho IPO price band has been set between ₹105 and ₹111 per equity share. Investors can purchase shares within this range depending on their bid decisions. The lot size for retail investors is 135 shares, meaning applicants must apply for at least one lot and may apply for multiple lots depending on their investment strategy and eligibility.

The structured pricing and accessible lot size ensure participation from a diverse set of investors, from first-time market entrants to seasoned portfolio holders. The upper end of the price band, when compared to the GMP of ₹53, signals expectations of a meaningful premium at the time of listing, encouraging continued demand.

Meesho IPO Subscription Status on Day 3

On the third day of bidding, the Meesho IPO has continued to draw substantial investor interest. By 10:45 AM, the public offer was subscribed 9.87 times. This level of oversubscription underscores sharp demand and reinforces the strong narrative around the company's growth prospects and business scalability. Retail investors subscribed the issue 10.95 times, while the Non-Institutional Investor (NII) segment posted a striking subscription figure of 14.28 times. Meanwhile, the Qualified Institutional Buyers (QIB) category recorded a 7.26 times subscription, indicating robust institutional confidence.

Such subscription patterns reveal that the public reception of Meesho’s business model resonates with investors across tiers. Institutional investor participation often signals informed conviction, while high NII demand is frequently considered an indicator of potential listing gains. Retail categories have also registered sustained enthusiasm, showing faith in Meesho’s consumer-first platform positioning within India’s e-commerce industry.

IPO Allotment Date and Timeline

The probable allotment date for the Meesho IPO is December 6, 2025. If administrative processes are delayed due to the weekend, allotment may be finalized on December 8, 2025. Once allotment is processed, equity shares will be credited to demat accounts, and refunds for unallotted bids will be initiated as per the official schedule.

Following allotment, Meesho shares will be listed on the BSE and NSE, marking a significant milestone for the firm’s market journey. Market participants continue to watch whether listing gains match GMP expectations, especially given the heightened anticipation in pre-listing activity.

Analyst Views and Brokerage Ratings

Market analysts and brokerage firms have expressed constructive views on Meesho’s IPO. Anand Rathi has issued a recommendation of “Subscribe for long-term only,” highlighting Meesho’s improving earnings profile, positive free cash flow, and operational discipline. The firm noted that Meesho is in the investment phase but continues to demonstrate capability in scaling operations and optimizing expenses, positioning itself for strong future gains.

Nirmal Bang assigned an “Apply” rating, emphasizing Meesho’s differentiated zero-commission, asset-light business model that has helped the platform establish dominance in Tier 2 and Tier 3 markets. Meesho’s ecosystem, catering to sellers, logistics providers, content creators, and end consumers, has evolved into a digital commerce network with affordability at its center. The brokerage estimates that the offering is reasonably priced at 5.7x FY25 price-to-sales, reflective of the company’s scalable market strategy and revenue pipeline.

In addition to these brokerages, several other firms, including ICICI Direct, Marwadi Shares and Finance, SBI Securities, Master Capital Services, Mehta Equities, Swastika Investmart, and Ventura Securities, have issued a “Subscribe” recommendation, citing Meesho’s distribution reach, market positioning, and long-term potential in India’s fast-growing digital retail ecosystem.

Meesho’s Business Model Advantage

Meesho functions on a zero-commission, asset-light digital commerce model that facilitates online selling without additional listing fees or platform commissions. This approach democratizes access to entrepreneurship, especially among sellers from semi-urban and rural belts, who often lack access to traditional retail frameworks. The platform’s affordability proposition has enabled significant adoption across budget-conscious buyers, making Meesho an appealing choice in India's evolving shopping habits.

Meesho’s operational network extends beyond product listings. The company collaborates with content creators to promote catalog visibility, and logistic partners ensure timely deliveries across remote regions. This unique combination of social discovery, low-cost distribution, and last-mile fulfillment gives Meesho a competitive edge among India’s e-commerce brands.