Shares of Meesho came under selling pressure on Thursday, hitting the lower circuit at ₹164.48, amid increased market activity following the expiry of the company’s one-month lock-in period.
Meesho slides on senior management exit; stock hits 5% lower circuit again.
According to CNBC-TV18, citing Nuvama Alternative and Quantitative Research, around 10.99 crore shares, or nearly 2 per cent of Meesho’s outstanding equity, became eligible for trading after the lock-in expiry. At the stock’s previous closing price of ₹182.24 per share, these shares are collectively valued at approximately ₹2,002.82 crore.
Market participants noted that the lock-in expiry allows these shares to be traded, but does not necessarily indicate immediate selling by shareholders. However, the development appears to have weighed on sentiment in the near term, leading to the stock touching its lower circuit limit.
Strong Market Debut Still Intact
Meesho had made a robust debut on the bourses on December 10, listing at ₹162.50 per share on the NSE, marking a premium of over 46 per cent to its IPO price of ₹111.
The company’s ₹5,421-crore IPO saw strong investor demand, with subscriptions reaching 79 times. Despite the day’s decline, the stock continues to trade around 32 per cent higher than its listing price, reflecting sustained investor interest since its market debut.
