Meesho’s IPO opened today and saw strong traction right from Day 1, driven mainly by retail investors. HNIs showed healthy participation, while institutional investors (QIBs) appeared more measured — a typical pattern seen in many large consumer-tech listings.
In the unofficial market, Meesho was trading at a solid premium over the issue price, reflecting positive short-term sentiment and expectations around the listing.
But beyond the hype, here’s what the DRHP / latest filings tell us:
Key business numbers (from filings)
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Revenue (FY25): ₹9,390 crore (vs ₹7,615 crore in FY24) — indicating strong top-line growth
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Net loss (FY25): ₹3,942 crore (headline number)
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Adjusted loss (excluding one-time items): Narrowed significantly to around ₹108 crore
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Orders in FY25: ~1.8 billion (up from ~1.3 billion in FY24)
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Net Merchandise Value (NMV): ~₹29,988 crore in FY25
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Company has also reported positive operational cash flow, signalling improving efficiency
Planned use of IPO funds
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Technology & cloud infrastructure
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Marketing and brand building
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AI / data & product capabilities
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Strengthening logistics & supply-side operations
What it shows
Meesho is not a “fully profitable” business yet — but it is clearly a high-scale, high-volume platform with improving unit economics, especially in Bharat / tier-2, tier-3, and value commerce markets. The biggest variable going forward: execution + sustainable monetisation.
Day 1 sentiment:
Retail strength 
Market excitement
Institutional caution 
Are you planning to apply for the Meesho IPO?
I don’t even need to know what company is that. It could be Vijay Mallya’s new company and I’d still take the IPO. 