India’s IPO pipeline is showing no signs of cooling down, with subscriptions for Meesho’s public issue set to open on Wednesday, December 3.

The ecommerce major has raised INR 2,439.5 Cr from anchor investors for the initial public offering. Anchor investors subscribed to 21.98 Cr equity shares of the company at INR 111 apiece.

Of these, 9.37 Cr equity shares, or 43% of the anchor round, were lapped up by 14 domestic mutual funds, including SBI, Aditya Birla Sun Life, Axis, HSBC, among others. Other prominent investors who participated in the anchor round were the Government of Singapore, Tiger Global, BlackRock and Fidelity, Morgan Stanley, among others.

The Bengaluru-based company, whose IPO closes on December 5, is looking to raise INR 5,421 Cr through a fresh issue of INR 4,250 Cr and an offer for sale (OFS) component of roughly INR 1,100–1,200 Cr. A total of INR 1,810.5 Cr is up for bidding in the fresh issue portion after the anchor round.

With a proposed valuation of INR 50,000 Cr, Meesho is going public at a time when liquidity is shifting, big IPOs are crowding the market and investors are gradually warming up to fast-growing, loss-making internet companies.

But, few companies entering the IPO queue this year have Meesho’s scale. The zero-commission platform is now India’s largest ecommerce player by orders and transacting users, a notable feat in a market long dominated by Amazon and Flipkart.

In the first six months ended September 2025, the ecommerce platform recorded 234.2 Mn annual transacting users with orders rising to 1,261.14 Mn. Annual transacting sellers grew to 7.06 Lakh, averaging 3,214.5 orders........

© Inc42