Meesho’s $606M IPO pops as enthusiasm for India’s e-commerce startups rises

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Meesho, an Indian e-commerce marketplace, had a good first day as a public company, with its shares climbing as much as 46% from its issue price as investors jumped to grab a piece of the company built around small merchants and value-conscious consumers.

The stock opened at ₹162.50, up from the issue price of ₹111, and reached a high of ₹171.84, giving Meesho a market capitalization of ₹780 billion (around $8.69 billion). The company raised $606 million in the IPO.

10-year-old Meesho was last valued at about $5 billion following a…



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Meesho’s $606M IPO pops as enthusiasm for India’s e-commerce startups rises


Meesho, an Indian e-commerce marketplace, had a good first day as a public company, with its shares climbing as much as 46% from its issue price as investors jumped to grab a piece of the company built around small merchants and value-conscious consumers.

The stock opened at ₹162.50, up from the issue price of ₹111, and reached a high of ₹171.84, giving Meesho a market capitalization of ₹780 billion (around $8.69 billion). The company raised $606 million in the IPO.

10-year-old Meesho was last valued at about $5 billion following a…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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