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…