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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