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Kolkata: The bidding for Meesho, one of the tech-based startups, began today, Dec 3, 2025. It was the latest in a series of startups that hit D Street to float a public issue. Meesho is expected to trigger sound investor bids. Two of the favourable indicators is a continuously rising GMP and an anchor investor participation that placed bids 30 times the portion earmarked for them.
The issue is designed to raise Rs 5,421.20 crore through a combination of fresh issue of 38.29 crore shares aggregating to Rs 4,250.00 crores and an OFS part of 10.55 crore shares aggregating to Rs 1,171.20 crore. The price band is set at Rs 105-111. This bring us to the topic of Indian startups hitting the market this year with IPOs. Let's have a look at the ones that preceded Meesho.
Set up in 2013
Ather Energy became the first new-age tech company to list in 2025. The shares of the EV maker listed at Rs 328 on the NSE, which marked 2.18% premium over its IPO price of Rs 321. The listing price at BSE was Rs 326.05 -- 1.57% premium over the IPO price. By the way, Ola Electric was the first EV maker to list in the country but it was in 2024.
The Ather Energy IPO raised Rs 2,980.76 crore of which the fresh issue segment raised Rs 2,626 crore and the OFS segment mopped up Rs 354.76 crore. The public issue was subscribed 1.50 times overall -- 1.89 times in the retail category, 1.76 times in QIB category and 0.69 times in the NII category. The EV major raised more than $431 million in funding before its IPO from institutions such as Hero MotoCorp, GIC and Tiger Global.
Set up in Feb 2021
Arisinfra Solutions' IPO was subscribed 2.8 times overall with retail investors bidding 5.90 times the shares earmarked for them. Non-institutional investors recorded 3.32 times subscription, while QIBs (qualified institutional buyers) subscribed 1.50 times. Shares of Arisinfra Solutions witnessed a tepid debut on the bourses on June 25, when the shares listed at Rs 205 on NSE, at a discount of 7.66% compared to the issue price of Rs 222. In the BSE it listed at Rs 209.10, down 5.81% from issue price. The IPO which raised Rs 499.60 crore was open for subscription from June 18 to June 20.
Set up in 2011
This omnichannel jewellery brand was supported by Prosus, Steadview Capital and Think Investments. It raised Rs 1,540.65 crores through a combination of fresh issue of 1.59 crore shares aggregating to Rs 820.00 crores and an OFS segment of 1.39 crore shares aggregating to Rs 720.65 crores. The price band was Rs 492-517 per share. BlueStone had a muted debut on August 19 when its shares listed at INR 508 -- a discount of 1.5% to the issue price of INR 517. On the NSE, the stock opened 1.3% lower from the issue price. The BlueStone Jewellery IPO was subscribed 2.72 times overall -- 1.38 times in the retail category, 4.25 times in QIB (Ex Anchor), and 0.57 times in the NII category.
Set up in 2008
Capillary Technologiesis a SaaS startup that is in the business of end-to-end customer engagement tools for brands to go for customer loyalty programmes on personalised omnichannel communication. Its business is spread across Southeast Asia, West Asia, North Africa and the US apart from India.
It recorded phenomenal success in subscription. The issue raised Rs 877.50 crore via fresh issue of Rs 345 crore and an OFS to raise Rs 532.50 crore. The issue was subscribed 52.98 times overall -- 15.85 times in the retail category, 57.30 times in QIB category and 69.85 times in the NII category. However, the company’s shares listed at Rs 560 on the BSE marking a discount of 2.9% to the issue price. On the NSE, the stock debuted at Rs 571.90 about 1% below the issue price of Rs 577.
Set up in 2017
Co-working company Dev Accelerator Rs 143.35-crore IPO subscribed was 64 times overall -- 164.89 times in the retail category, 20.30 times in QIB (Ex Anchor) category and 87.97 times in the NII category. The shares witnessed muted debut on the stock exchanges -- Rs 61.30 on the BSE compared to its issue price of INR 61, while on the NSE it listed at Rs 61.
Set up in 2017
The price band of this unicorn was Rs 95-100. It raised Rs 6,632.30 crore through a combination of a fresh issue of Rs 1,060 crore and an OFS of Rs 5,572.30 crore. The bidding was held between November 4 and November 7. The IPO was subscribed 17.60 times overall -- 9.43 times in the retail category, 22.02 times in QIB (Ex Anchor) category and 14.20 times in the NII category. Groww shares recorded 14% premium above the issue price at Rs 114 on the BSE while it listed at Rs 112 on the NSE.
Set up in 2015
IndiQube had a muted debut on the exchanges. Shares of this workspace solutions provider listed at INR 218.7 on the BSE, marking a decline of 7.7% from the issue price of INR 237. On the NSE, it listed at INR 216. The IndiQube IPO size was Rs 700 crore, consisting of a Rs 650 crore fresh issue and an OFS part of Rs 50 crore. The issue was subscribed 13.00 times overall -- 13.28 times in the retail category, 15.12 times in QIB category and 8.68 times in the NII category.
Set up in 2010
The Lenskart IPO size was Rs 7,278.02 crores, which included a fresh issue of Rs 2,150.00 crores and an OFS part of Rs 5,128.02 crores. The IPO opened on October 31 and closed on November 4. The price band of this shares was Rs 382-402. The Lenskart Solutions IPO was subscribed 28.27 times overall -- 7.56 times in the retail category, 40.36 times in QIB (Ex Anchor) category and 18.23 times in the NII category. The eyewear giant made a muted debut on the bourses, listing at Rs 395 -- 3% below the issue price of Rs 402 on the BSE. On NSE it listed at a discount of 1.74% to the issue price.
Set up in 2020
This was India's first true blue edtech firm to go public. The Physics Wallah IPO size was Rs 3,480 crore consisting of a fresh issue of approximately Rs 3,100 crore and an OFS part to raise Rs 380 crore. The Physics Wallah IPO price band was Rs 103-109. The PhysicsWallah IPO was subscribed 1.92 times overall -- 1.14 times in the retail category, 2.86 times in QIB (Ex Anchor) category and 0.51 times in the NII category. Despite it wobbly financials, the shares witnessed a robust debut, listing at a premium of 33% at Rs 145 on NSE. On BSE the listing took place at Rs 143.10.
Set up in 1998
The Pine Labs IPO raised about Rs 3,900 crore -- 2,080 crore via fresh issue and Rs1,820 crore via the OFS segment. The price band for the Pine Labs IPO was Rs 210-221. The IPO of the fintech startup was oversubscribed 2.46 times overall. Investors such as Peak XV Partners, Actis and Temasek diluted their stake via the IPO. Shares of Pine Labs made a market debut listing 9.5% above the issue price at Rs 242 on BSE and NSE.
Set up in 2016
Smartworks Coworking Spaces IPO raised Rs 582.56 crores through a combination of fresh issue of 1.09 crore shares aggregating to Rs 445.08 crores and OFS part of 0.34 crore shares aggregating to Rs 137.48 crores. Smartworks Coworking Spaces IPO price band was Rs 407. The IPO was subscribed 13.92 times -- 3.69 times in the retail category, 24.92 times in QIB category and 23.68 times in the NII category. The shares listed at Rs 435 on the NSE and Rs 436.10 on the BSE at premiums of 6.88% and 7.15% respectively over its IPO issue price of Rs 407 on July 17.
Set up in 2014
Urban Company IPO raised Rs 1,900.24 crore through a combination of fresh issue of 4.58 crore shares aggregating to Rs 472.24 crore and an OFS part of 13.86 crore shares aggregating to Rs 1,428.00 crore. The price band was Rs 103. Urban Company IPO created a flutter in terms of subscription -- 108.98 times overall and 41.49 times in the retail category, 147.35 times in QIB (Ex Anchor) category and 77.82 times in the NII category. The shares made a remarkable debut on the bourses on September 17, listing 56.3% above their issue price at Rs 161 on BSE and the listing price was Rs 162.25 on NSE.
Set up in 2017
The Rs 3,000-crore IPO was entirely an offer for sale of 4.63 crore shares. The bidding dates were Oct 3 to Oct 7. The shares were listed on BSE and NSE on Oct 10. The listing price was Rs 646.50 on the BSE and Rs 650 on the NSE. WeWork India IPO price band was Rs 648. The WeWork India IPO was subscribed 1.15 times overall -- 0.62 times in the retail category, 1.79 times in QIB (Ex Anchor), and 0.23 times in the NII category.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, REITs, INVITs, any form of alternative investment instruments and crypto assets.)
