Meesho Stock Price Hits New All-Time High, E-Commerce Major Delivers 79% Gain Since Market Debut

The Bengaluru-headquartered e-commerce major Meesho extended its gain on Wednesday, December 17, by 10.5% to hit a new all-time high of Rs 199.35 on the NSE.

This marked the second consecutive session of achieving an all-time high as the stock had climbed 5.6% in yesterday's trading session. The newly listed stock has also recorded 21% return over the past two trading sessions.

The recent surge in Meesho's share price comes after the bullish note by the top brokerage UBS. The Zurich-based firm initiated a ‘Buy’ rating and a target price of ₹220, eyeing nearly 10% upside from today’s peak.

Also Read: RBI Returns With Decisive Hand To Halt Rupee's One-Way Slide

Meesho's IPO Debut

The Vidit Aatrey-led e-commerce company made its mainboard debut with a premium above 46% over the issue price of Rs 111 apiece. On the NSE, Meesho, which has a market cap of over Rs 80,000 crore, began trading at Rs 162.50 per share, higher by 46.40%, and later surged 55.58% to Rs 172.70.

Meanwhile, the e-commerce stock was listed for Rs 161.20 per share, 45.22% higher on BSE. With the high it recorded in today's trading session, Meesho has delivered 79% gain over its IPO price.

About Meesho Ltd

Incorporated in 2015, Meesho is an e-commerce platform facilitating trade between suppliers and consumers and has emerged as the largest in terms of orders placed- 126.1 crore - and having the highest annual transacting users - 234 million in India. The company has 7 lakh sellers on the platform, which includes manufacturers, wholesalers and traders.