Mumbai,Dec 11: Meesho shares, which made a powerful debut on the stock exchanges, pared most of their early opening gains on Wednesday. The stock had surged nearly 4% to touch ₹176.75 in the morning session but later cooled off to trade around ₹170.35, marking a marginal uptick of just 0.15% compared to the previous close. The moderation comes after heavy early profit-booking and cautious market sentiment following the company’s blockbuster listing.
Meesho had opened at a premium of nearly 46% over its IPO issue price of ₹111, with the stock listing at ₹162.50 on the NSE and ₹161.20 on the BSE. By the end of the first trading day, the shares had settled around ₹170.45, delivering over 50% returns to investors on debut. Analysts said the strong demand reflects investor confidence in the company’s growth potential, though they warned that near-term volatility may persist as the newly listed stock stabilizes at a sustainable valuation level.
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