Meesho’s $604 million IPO drew extraordinary demand, receiving bids worth roughly $28 billion, making it one of India’s most highly subscribed public offerings. Institutional buyers drove the surge with subscriptions at 120x their allotted shares, reflecting strong confidence in fast-growing, consumer-driven tech companies despite short-term profitability concerns. With revenue rising and losses sharply narrowing, Meesho’s debut adds momentum to India’s record-setting IPO year, with trading set to begin next week.
India’s E-Commerce Firm Meesho Draws $28 Billion in IPO as Institutional Investors Pile in
