The IPO of Meesho, a company selling online clothes, is going to open next week, but before that, it is seen creating ruckus in the gray market. The GMP (Meesho GMP) of this issue is running at 38 percent and this is an indication of the strong listing of the company’s shares in the stock market. This means that those who invest money can get huge benefits.
IPO worth Rs 5421 crore
If you are preparing to invest in IPO, then the next week is going to be great for you. Actually, Meesho, a giant company selling clothes online, is opening its IPO on 3rd December, in which money can be invested for three days i.e. till 5th December. Talking about the size of the IPO of this e-commerce company backed by SoftBank, it is Rs 5,421.20 crore.
Price band so much, GMP blast
Talking about the price band for this IPO of Meesho, it has been fixed at Rs 105 to Rs 111 per share. Even before opening, its grey-market premium was running at 37.84% on Sunday evening. On the basis of Meesho GMP, it is expected that Meesho Share Listing can be done in the stock market at Rs 153. Meaning, Rs 42 more than the upper price band.
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So many profitable signs on every lot
If we calculate the investors’ profit on the basis of GMP, then let us tell you that the company has fixed the lot size of 135 shares under the IPO. This means that any investor will have to bid for at least this many shares. According to the upper price band, a minimum investment of Rs 14,985 will have to be made for this.
Now if Meesho Shares are listed in the market as per the latest GMP, then the amount invested will increase to Rs 20,655 with the listing. This means that investors will get a direct profit of Rs 5670 on each lot in one go.
Share listing on 10th December
Meesho will issue new shares worth Rs 4,250 crore in the IPO, while shares worth Rs 10.55 crore will be sold by the promoters through Offer for Sale (OFS). After the IPO closes on 5th December, the allotment process of shares will be done on 8th December. Its refund process will start on December 9 and shares will be credited to the demat accounts of investors on the same day. The date of December 10 has been fixed for listing of the company’s shares on both the stock market indices BSE-NSE.
(Note- Before making any investment in the stock market or IPO market, definitely take advice from your experts.)
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