Mumbai: The much-anticipated initial public offering (IPO) of e-commerce unicorn Meesho Limited is set to open in the first week of December. The Bengaluru-headquartered company, that focusses on affordable products, was founded by Vidit Aatrey and Sanjeev Barnwal in 2015. The fast-growing e-commerce platform is backed by Japanese multinational investment holding company SoftBank.

Opening Date

The anchor investor bidding date for the Meesho IPO is on Tuesday (December 2), when large institutional investors will submit their bid. These investors will be allotted their shares on the same day.

The IPO will open for public subscription on December 3.

When Will The Bidding Close?

After three days of bidding, the IPO will close on December 5.

Price Band

While the lower range of the Meesho IPO price band has been set to ₹105 per share, the upper range has been set at ₹111 per share.

Lot Size

Bids can be made for a minimum of 135 equity shares of face value of ₹1 each, and in multiples of 135 equity shares of face value of ₹1 each thereafter.

Reservations

Meesho IPO has reserved 75% of the shares in the public issue for qualified institutional buyers (QIBs), 15% for non-institutional Investors (NIIs) and 10% for retail investors.

Who Are The Top Selling Shareholders?

According to a press release of Meesho Limited, Co-founder Vidit Aatrey and Sanjeev Barnwal are tagged as Meesho's promoters. The duo together hold a stake of 18.5%, valued at ₹8,749 crore at the upper end of the price band. They are expected to sell 16 million shares each and realise around ₹178 crore each from the offer for sale (OFS).

Meesho's largest shareholder Elevation Capital, which holds a 13.6% stake in the company, will sell 2.4 crore shares and will realise more than ₹270 crore.

The second-largest shareholder of Meesho, Peak XV Partners, which has a 12.8% stake valued at around ₹6,055 crore, will sell 1.7 crore shares and realise around ₹193 crore.

Allotment Date

After the subscription window for the IPO is closed, the allotment of IPO shares will be finalised on December 8. Those who succeed in their bid will find the shares credited to their demat accounts on December 9. After the allotment process is completed, the blocked funds of unsuccessful bidders will be refunded to the bank accounts of unsuccessful bidders.

Meesho shares are expected to start trading on the BSE and the NSE on December 10.

Meesho Limited is expected to raise ₹5,421 crore from the IPO. Notably, ₹480 crore of the raised money will be designated for the salaries of the employees.