Meesho IPO: Funding Details & Anchor Investors

Here’s a ⁢breakdown of the key⁣ information from the provided text, focusing on the Meesho IPO:

Anchor Investors & Oversubscription:

* The anchor tranche (initial‍ allocation to institutional investors) included major players like GIC, Fidelity, BlackRock, Morgan Stanley, Goldman⁢ Sachs, WCM Investment⁣ Management, SBI Mutual Fund, Axis Mutual Fund, and ⁢Birla ⁤Mutual Fund, as well as technology-focused investor Dragoneer Investment Group.
* Demand for the anchor book exceeded Rs 80,000 crore, representing nearly 30 times oversubscription.

Controversy & Investor Pullout:

* ⁣ A controversy arose when reports surfaced that several major investors pulled out after Meesho allegedly allocated about 25% of the anchor shares to SBI Funds Management.
* ⁤ Specific SBI⁤ funds that received allocations include: The SBI Innovative Opportunities Fund, SBI consumption Opportunities Fund, and ‍SBI Resurgent India Opportunities Scheme.

Grey Market Premium (GMP):

* The‍ Meesho IPO is⁢ generating critically importent buzz in the grey market.
* The GMP is currently around Rs 50-51,suggesting⁤ a potential listing gain of approximately 46% ⁢(expected listing price of ⁤Rs 162).
* ⁣ GMP is an unofficial indicator of demand ⁣and pricing ⁣expectations before listing.

IPO Details & Key Dates:

* IPO ⁢Open Dates: December 3 – December 5
* Price Band: Rs 105 – Rs 111 per equity share
* Lot Size (Retail Investors): 135 shares
* Investment per Lot (Upper Band): Rs 14,985
* allotment: expected by December 8
*⁣ Refunds & Demat Credits: December 9
* Listing Date: december 10