Meesho share price tumbles up to 10%; stock down over 28% from record high of ₹254.40 on NSE

The stock in the intraday session tumbled as much as 9.99% to hit the day's low of ₹181.52 on the NSE.

With today's low level, the stock is now down 28.6% from its all-time high level of ₹254.40 on the NSE, touched on December 18, 2025.

Meesho IPO and listing details

Meesho shares on December 10 made a remarkable market debut by listing with a premium of more than 46% against the issue price of ₹111.

The stock started trading at ₹162.50, up 46.40% from the issue price on the NSE. Later, it jumped 55.58% to ₹172.70.

On the BSE, the stock made its market debut at ₹161.20, registering a jump of 45.22%.

The initial public offering (IPO) of Meesho was subscribed 79.02 times on the final day of share sale.

The ₹5,421 crore IPO had a price band of ₹105-₹111 per share.

The IPO was a mix of a fresh issue of shares worth ₹4,250 crore, along with an offer for sale (OFS) of 10.55 crore shares valued at ₹1,171 crore at the upper band, taking the total issue size to ₹5,421 crore.

Meesho had said that it plans to utilise proceeds for investment in cloud infrastructure, marketing and brand initiatives, as well as funding inorganic growth through acquisitions and other strategic initiatives, and general corporate purposes.

The stock's rally has been phenomenal, as the price advanced to up to ₹254.40 on the NSE.

UBS recently initiated coverage on Meesho

UBS, as per news reports, expects Meesho's focus on lower- to middle-income consumers in India's tier 2 and 3 cities to provide a growth runway, given that adoption accelerates among these consumers.

The financial services firm notes that Meesho operates in an asset-light, negative working capital business model while ensuring positive cash flows. It noted that the firm’s net merchandise value is estimated to grow at a CAGR of 30% over FY25-30.

UBS, according to news reports, sees contribution margin and adjusted EBITDA margin reaching 6.8% and 3.2% of NMV by FY30. It added that Meesho’s growth is driven by active transacting users (ATU) rising from 19.9 crore to 51.8 crore.

UBS further sees order frequency increasing from 9.2x to 14.7x. However, the average order value may decline from ₹274 to ₹233 as logistics efficiencies are passed on.

Meesho financials

In FY25, Meesho connected over 5 lakh transacting sellers with 199 million annual transacting users, facilitating 1.8 billion placed orders. The company's Net Merchandise Value (NMV) grew 29% year-on-year to ₹29,988 crore in FY25, following 21% growth in FY24.

In e-commerce, NMV refers to the cumulative checkout value of successfully delivered orders, inclusive of taxes. It is a core measure of platform health, as it reflects the strength of customer adoption and repeat usage, making it a key driver of revenue, margins, and cash flow across the ecosystem.

Financially, the company posted a net loss of ₹3,942 crore for FY25, primarily due to one-time exceptional items, including reverse flip tax and perquisite tax, which were necessary for the company's transition to a public structure.

The company substantially narrowed its losses to ₹700.72 crore in the first half of FY26 from ₹2,513 crore a year ago. Its revenues from operations rose to ₹5,577.54 crore in the six-month period ending September 2025 from ₹4,311.29 crore a year earlier.