Meesho hits record high as stock extends post-IPO rally

Meesho listed on the stock exchanges on December 10. The stock has gained 62.93% over its IPO price of Rs 111 and is up 12.19% from its listing price of Rs 161.20.

A domestic brokerage recently initiated coverage on the stock with a Buy rating and a target price of Rs 200. The brokerage cited a faster path to profitability as a key trigger and said it expects Meesho's revenue to grow at a 31% CAGR between FY25 and FY28, driven by deeper value-commerce penetration and logistics efficiencies. EBITDA is seen turning positive by FY27.

The company's IPO received strong investor interest. It was subscribed 79.03 times, with bids for 2,196.67 crore shares against an offer size of 27.79 crore shares. The issue opened on December 3 and closed on December 5, with a price band of Rs 105 to Rs 111 per share.

The company plans to deploy IPO proceeds towards cloud infrastructure, technology and AI talent, marketing and brand building, as well as inorganic growth and general corporate purposes.

Meesho operates a multi-sided e-commerce platform connecting consumers, sellers, logistics partners and content creators. Orders are fulfilled either through its in-house logistics platform Valmo or through third-party logistics partners.

The company said net merchandise value per annual transacting seller grew at a CAGR of 16.86% between FY23 and FY25. For the quarter ended September 2025, Meesho reported a consolidated net loss of Rs 700.72 crore and revenue of Rs 5,577.54 crore.

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