Published on: 2025-11-27
Traders in India have been waiting a long time for Meesho to hit the primary market. Meesho IPO open date is December 3, 2025 and the IPO will close on December 5, 2025.
So, attention has shifted to one simple question: what will the Meesho IPO price look like, and is the valuation justified?
The company has moved from heavy losses to strong cash generation, while keeping its focus on low-ticket, mass market orders. That shift is central to how investors are thinking about the IPO price band and eventual market cap.
As of now, the official Meesho IPO price band has not been announced by the company or the lead managers. Most public sources still show the price band as "to be announced".
Even without a final price, the filings and media reports give a clear sense of the range the market is working with:
| Item | Details |
|---|---|
| Fresh issue size | About ₹4,250 crore in new shares |
| Offer for sale (OFS) | Up to around 17.57 crore existing shares |
| Estimated total issue size | Roughly ₹5,800 – ₹6,600 crore |
| Target valuation | Around ₹52,500 – ₹53,000 crore (≈ USD 6 bn) |
| Planned listing window | December 2025 on main Indian stock exchanges |
In simple terms, the market expects Meesho to come at a high single digit price to sales multiple, backed by fast revenue growth and a sharp swing in free cash flow.
Type of issue: book built IPO
Fresh issue: equity shares worth up to ₹4,250 crore
Offer for sale: up to 17,56,96,602 equity shares by existing shareholders
Face value: ₹1 per share
Expected total issue size: about ₹5,800 - ₹6,600 crore
Indicative post-money valuation: around ₹52,500 crore, based on recent media and research estimates
Updated draft filed with the regulator: October 2025
Expected launch: early December 2025, subject to final approvals and market conditions
Proposed listing venue: main national stock exchanges in India
For traders, this means the hard Meesho IPO price number is still open, but the valuation bracket and fundraising plan are already quite clear.
According to the updated documents and public disclosures, Meesho’s revenue from operations has climbed steadily:
FY23: about ₹5,735 crore
FY24: about ₹7,615 crore
FY25: about ₹9,390 crore
That is roughly 64 percent growth in two years, even as the company kept average order values low to target value-conscious shoppers.
The most striking shift has been on profitability and cash:
Loss before tax and exceptional items has narrowed from around ₹1,672 crore in FY23 to close to ₹108 crore in FY25.
In the last twelve months free cash flow in FY25 is reported around ₹1,032 crore including interest income, or about ₹591 crore excluding interest, a huge swing from negative levels in FY24.
This improvement has come with lower fulfilment costs per order, which fell from roughly ₹50 in FY23 to about ₹43 in FY25 as logistics and operations became more efficient.
Research notes put Meesho’s gross merchandise value (GMV) run rate at about 6.2 billion US dollars for FY25, signalling a scale that now matches a large listed consumer internet company.
The updated industry report and investor commentary also highlight that a high share of Meesho’s users come from outside the top Indian cities, which fits the value-led positioning that investors are now pricing into the IPO.
While the final IPO price band is pending, the indicative valuation around ₹52,500 crore allows traders to frame likely valuation multiples.
Using FY25 revenue of roughly ₹9,390 crore, the implied price to sales multiple sits close to:
₹52,500 crore ÷ ₹9,390 crore ≈ 5.6 times revenue
On free cash flow, the picture depends on how you treat interest income:
On ₹1,032 crore free cash flow (including interest), the implied price to FCF is around 51 times
On ₹591 crore (excluding interest), the multiple rises closer to 89 times
So the Meesho IPO price, when announced, is likely to reflect:
A premium for high revenue growth and improving unit economics
A discount versus some earlier private funding expectations
A valuation that still assumes strong growth and steady cash generation for several years
For Indian equity traders, this sets up a classic growth-versus-valuation trade.
India is on track for one of its biggest ever IPO years, with a heavy pipeline in the final quarter of 2025. Meesho is one of the most watched names in this group.
A steady secondary market, good liquidity and healthy listing debuts for other issues would support a firmer price band. A shaky tone in the market could push the band to the lower side of expectations.
Global and domestic institutions will look hard at:
The three year revenue growth track
The sharp improvement in losses and free cash flow
The strength of Meesho’s value-focused positioning in smaller Indian cities
If anchor demand is strong at higher valuations, the price band may be set closer to the upper end of the informal range used in recent reports. Softer demand could bring a more conservative band.
Retail appetite for technology and consumer internet IPOs has been high in recent cycles, but it is also sensitive to recent listing outcomes and broader sentiment. Grey market premium (GMP) quotes, if they emerge closer to the issue, will likely reflect both:
The valuation versus peers in the wider internet and retail space
Confidence in the company’s ability to grow profitably in non metro India
At the time of writing, there is still no reliable, settled GMP trend for the Meesho IPO, which is natural this early in the process. Traders should treat any informal quotes with caution and focus first on fundamentals and official documents.
In the run up to the Meesho IPO opening, traders should track:
The official price band announcement
Any updated financial data or KPIs shared by the company
Market mood around other new listings in the same period
The official red herring prospectus and regulator filings will remain the single most important source for hard numbers on the offer.
Once the book opens, day by day subscription data often shapes short term expectations for listing:
Strong qualified institutional buyer (QIB) demand can signal confidence in the IPO price
A healthy non institutional and retail book may hint at solid listing day interest
A weak book, or heavy reliance on price cuts and extensions, may point to pressure on the final pricing
On listing day, traders will focus on:
How the listing price compares with the final issue price
Intraday volume and volatility patterns
Whether the stock holds above issue price after the first wave of profit taking
These early sessions rarely decide a long term story, but they do show how much of the growth and cash flow story was already priced in.
Meesho’s IPO will give Indian traders exposure to a high growth, value-focused ecommerce model at the point where it first becomes a listed stock. With EBC Financial Group, traders can integrate that exposure into a broader multi asset strategy.
With EBC Financial Group, traders can:
Trade shares and CFDs on major listed companies, including new listings once they are available on supported venues
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Manage risk with stop loss and take profit orders, plus flexible position sizing
Note: Trading leveraged products involves a high level of risk and may not be suitable for all investors. You can lose more than your initial investment. Consider your objectives carefully and seek independent advice if needed.
No. At the time of writing, the Meesho IPO price band has not yet been officially declared. Public IPO trackers and broker sites still show the band as "to be announced", although the offer size and valuation range are already visible in filings and news reports.
Recent offer documents and media coverage suggest Meesho is aiming for a valuation of around ₹52,500 - ₹53,000 crore, which is roughly 6 billion US dollars. That would price the company at about 5.6 times its FY25 revenue, based on reported numbers.
The proposed IPO includes a fresh issue of equity shares worth up to ₹4,250 crore and an offer for sale of about 17.57 crore shares by existing investors. Depending on the final price band, total proceeds are expected to be in the ₹5,800 - ₹6,600 crore range.
The updated documents indicate that Meesho is targeting a December 2025 listing on India’s main stock exchanges, subject to final regulatory clearances and market conditions. The precise timetable, including opening, closing and listing dates, will follow once the regulator gives final approval.
Whether the Meesho IPO price is expensive depends on your view of its growth, profitability and competitive position. The implied valuation of about 5.6 times FY25 revenue and 50 - 90 times free cash flow places it firmly in growth territory, though with improving fundamentals and strong cash generation.
Meesho’s planned IPO brings to market a business that has grown rapidly through low-ticket orders, tightened its cost base, and recently turned free-cash-flow positive.
The expected valuation reflects both that progress and the scale of the opportunity in value-focused online retail.
For traders, the key is not to fixate on a single rupee figure for the Meesho IPO price but to consider the issue size and structure, the company’s growth and cash-flow track record, the implied revenue and cash-flow multiples at the chosen price band, and broader market conditions before and after the listing window.
If you plan to trade Meesho once it lists, or position around other major IPOs, make sure your decision aligns with your risk tolerance, time horizon, and wider portfolio, and use a regulated partner such as EBC Financial Group for execution and risk management.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
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