Meesho bags Rs 2,439 Cr from anchor investors; demand jumps 32X

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SoftBank-backed e-commerce marketplace Meesho has raised Rs 2,439 crore from anchor investors at the upper price band of Rs 111 per share, ahead of its initial public offering. The anchor book received bids worth nearly Rs 80,000 crore, indicating an oversubscription of around 32X.

According to the company’s filing with the stock exchanges, 21.97 crore equity shares were allotted to anchor investors at Rs 111 per share for the abovementioned amount. Out of the total anchor portion, 9.37 crore shares (43.6%) were allocated to 14 domestic mutual funds…



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Meesho bags Rs 2,439 Cr from anchor investors; demand jumps 32X


SoftBank-backed e-commerce marketplace Meesho has raised Rs 2,439 crore from anchor investors at the upper price band of Rs 111 per share, ahead of its initial public offering. The anchor book received bids worth nearly Rs 80,000 crore, indicating an oversubscription of around 32X.

According to the company’s filing with the stock exchanges, 21.97 crore equity shares were allotted to anchor investors at Rs 111 per share for the abovementioned amount. Out of the total anchor portion, 9.37 crore shares (43.6%) were allocated to 14 domestic mutual funds…



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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