Meesho IPO Mega Market Debut: Stellar Valuation, Cooling GMP
The Meesho IPO has become just like a blockbuster movie release on a Friday morning in terms of finance, and the spectators (which are you, of course!) are very impatient to know the numbers from the first day, first show. Valued at approximately ₹50,096 crores, Meesho at the upper price band of ₹111 is considered to be very reasonably priced, according to analysts, especially in comparison with other new-age tech companies that are competing for attention in the same market.
Get to the point at last of talking about the highly, the daily market premium continues to be a source of great drama. The GMP as of 07:11 AM was at ₹43, indicating a possible listing price of ₹154, which is almost a 38.74% increase. Very tempting, isn’t it? However, before you get too excited, let me tell you that the latest GMP figure has gone down to ₹36, which pushes the projected listing price down to about ₹147, but that is still quite a nice premium of 32.43%.
And here comes the irony: the GMP has been gradually decreasing during the last thirteen days from the peak of ₹49.50 to the bottom of ₹33. Hence, the million-dollar question is, will Meesho be a hit or a flop today? So, are you ready with your popcorn? The opening bell is just around the corner.