Meesho IPO Allotment: Finalisation Begins as Investors Await Listing Day

The Meesho IPO allotment has become the market’s most-watched event this week. With subscription numbers hitting rare highs, the conversation across Dalal Street is centred around one question—how big will the listing day excitement be?

The allotment is now finalised, and for lakhs of retail and institutional applicants, today marks that anxious wait before the next stage: refunds, credit of shares, and the big listing on December 10.

Market Performance & Sentiment

Meesho’s IPO closed with extraordinary traction. Market sentiment turned sharply positive as the issue drew some of the strongest subscription figures seen in recent mainboard offerings.

A quick snapshot:

• Oversubscription: 79.02 times (final day, December 5)
• Total bids: 2,196 crore shares
• Shares on offer: 26.86 crore
• Issue size: ₹5,421 crore

Investor categories recorded strong participation:

• QIBs: 1,807 crore bids vs 14.65 crore shares reserved
• Non-Institutional Investors: 291 crore bids vs 7.32 crore shares
• Retail Investors: 97.14 crore bids vs 4.88 crore shares

The demand alone hinted at the market’s confidence in Meesho’s growth and its rising influence in India’s e-commerce landscape.

Main News: Allotment Finalised & Listing Timeline

The Meesho IPO allotment was finalised on December 8, and the post-allotment process has already begun.

What’s happening now?

• Refunds for non-allottees: Begin December 9
• Share credit to demat: December 9
• Listing date: December 10, on NSE & BSE

With the allotment phase complete, investors now shift their focus toward preparations for the listing day.

How to Check Meesho IPO Allotment

The registrar for the IPO is Kfin Technologies Ltd, and applicants can check their allotment status using several methods.

Steps on the Kfin Technologies Portal

1. Visit the registrar’s website
2. Select “Meesho Limited” from the IPO dropdown
3. Enter PAN / Demat number / Application number
4. Complete captcha → Submit

Check on NSE

1. Visit the NSE IPO status page
2. Enter PAN ID
3. Enter Application Number
4. Submit

Check on BSE

1. Go to the BSE IPO allotment portal
2. Select “Equity”
3. Choose “Meesho Limited”
4. Enter PAN or Application Number
5. Submit

Multiple backend links on Kfin also allow PAN-based, DP-based, and application-based searches.

Company Details: Growth, Users, Revenue & Market Position

Meesho’s rapid expansion has been a key driver behind the strong investor interest. Its consumer-focused model, mobile-first strategy, and zero-commission structure have helped it scale faster than the broader e-commerce market.

Financial Performance

• Revenue (FY23 → FY24): ₹57.3B → ₹76.1B (+32.8%)
• Revenue (FY24 → FY25): ₹76.1B → ₹93.9B (+23.3%)

User Growth

• Annual Transacting Users:
  • 136M → 156M → 199M
• Orders placed:
  • 1.02B → 1.34B → 1.83B
  • YoY growth: 31% & 36.7%

Category Market Share

• Fashion: 21–23%
• Home, Kitchen & Furnishing: 23–25%
• Beauty & Personal Care: 8–10%

The company leads in placing orders for fashion, home, kitchen, and furnishing categories.

Net Merchandise Value (NMV)

• FY24: +21% YoY
• FY25: +29% YoY to ₹29,988 crore
• FY25: 500,000+ active sellers, 199M annual active users, 1.8B orders delivered

Business Model

Meesho operates an asset-light marketplace connecting:

• Consumers
• Sellers
• Logistics partners
• Content creators

The platform avoids:

• Private labels
• Owned inventory
• In-house logistics infrastructure

Revenue Streams

• Logistics services
• Advertising

A zero-commission structure makes low-priced SKUs viable, attracting over 700,000 Annual Transacting Sellers as of September 2025.

Profitability Snapshot

• Loss (H1 FY26): ₹700.7 crore (vs ₹2,512.9 crore last year)
• H1 FY26 revenue: ₹5,577.5 crore (vs ₹4,311.3 crore last year)
• FY25 net loss: ₹3,942 crore (due to one-time exceptional items)

Industry Landscape

India’s e-commerce sector continues to expand:

• Current GMV: ₹6 trillion
• Projected GMV by FY2030: ₹15–18 trillion
• Retail penetration estimate: 12–13%

Non-electronics penetration remains low, creating large headroom for growth—a segment where Meesho already holds strong positions.

Risks Highlighted in the RHP

High CoD Dependence

• FY25: 76.95%
• FY24: 85.39%
• FY23: 88.71%
• H1 FY26: 72%
• H1 FY25: 78.51%

Regional Seller Concentration

• Gujarat: 15.70%
• Uttar Pradesh: 15.87%
• Delhi: 13.78%

Competitive Landscape

The company faces ongoing competition from large online and offline retailers, along with D2C brands—making customer and seller retention crucial.

Peer Set

Listed peers mentioned include:

• Eternal Ltd (P/E: 529.14)
• Nykaa (P/E: 1,168.43)
• Vishal Mega Mart (P/E: 99.53)
• Trent Ltd (P/E: 100.87)
• Avenue Supermarts (P/E: 98.43)
• Swiggy
• Brainbees (Groww)

Anchor Investor Lock-In

• 50% of shares: 90-day lock-in
• 50% of shares: 30-day lock-in

Early Investors & Valuation Jump

Elevation Capital

• Stake: 13.6%
• Value: ₹177 crore → ₹6,433 crore

Peak XV

• Stake: 11.3%
• Value: ₹207 crore → ₹5,342 crore

YC Continuity Fund

• Value: ₹5.3 crore → ₹576 crore

Gemini Investments

• Value: ₹8.3 crore → ₹493 crore

Venture Highway

• Value: ₹73.5 crore → ₹175 crore

Summary

Meesho’s IPO journey showcases one of the strongest responses among recent tech listings. Heavy bidding, rising user metrics, and a fast-scaling marketplace have all contributed to heightened investor attention.

With allotment now finalised and refunds/demat credit scheduled for December 9, all eyes are now on the listing day—December 10. Every figure in Meesho’s RHP, from NMV to user growth, supports the same narrative: strong demand, strong scale, and strong anticipation for the company’s market debut.