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Meesho Trades Flat After Stellar Market Debut and Fresh Investment in Subsidiary
Meesho stayed flat a day after its strong listing, even as it confirmed a ₹2,890 crore investment in its subsidiary through a rights issue tied to IPO proceeds.
Shares of Meesho were largely steady at ₹170.15 on Thursday, a day after the e-commerce platform surged over 53% on listing. The company disclosed a rights issue investment of ₹2,890 crore into its wholly owned subsidiary, Meesho Technologies, as part of its planned IPO proceeds utilisation. The move supports expansion and operational strengthening after a blockbuster IPO that drew 79× subscription. Despite muted price action today, the stock retains strong market interest following its debut highs near ₹177.