Meesho shares debuted with over 46% premium on NSE and BSE after its Rs 5,421-crore IPO saw strong 79-times subscription. The company plans to use proceeds for cloud infrastructure, marketing, acquisitions and other strategic growth initiatives

New Delhi: Shares of e-commerce firm Meesho on Wednesday made a remarkable market debut by listing with a premium of more than 46 per cent against the issue price of Rs 111. The stock started trading at Rs 162.50, up 46.40 per cent from the issue price on the NSE. Later, it jumped 55.58 per cent to Rs 172.70.

On the BSE, the stock made its market debut at Rs 161.20, registering a jump of 45.22 per cent.

The company’s market valuation stood at Rs 77,355.07 and Rs 77,273.83 crore on the BSE and NSE, respectively.

The Initial Public Offer (IPO) of

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