Investors placed bids for 221 crore shares against the 27.79 crore shares on offer as Meesho joins a long list of series of tech IPOs capitalising on a thriving primary market.
The stock was at Rs 392.3 as of 10:07 a.m. IST, valuing the eyewear retailer at Rs 676.25 billion ($7.69 billion). Rival Titan commands a valuation of $37.7 billion.
ED claims to have busted racket of illegal diversion of public funds after the tech firm raised Rs 36.6 cr in IPO in 2022. Probe stems from FIRs against promoter Harshavardhan Sabale.
Analysts say the worry is that mutual funds — whose inflows are dominated by household money — may be paying steep valuations for startups yet to establish profitability.
Proceeds from the offering will be used to establish new company-owned, company-operated stores, invest in technology and cloud infrastructure, and fund general corporate purposes.
The firm, valued at $2.8 billion, plans to use issue proceeds to set up physical coaching centres, cover rent, boost technology and marketing, and fund acquisitions.
The attack on Chhayanaut, newspaper offices, and the public lynching of a Hindu man show that Bangladesh is heading toward Islamist rule, far removed from electoral democracy.
It is argued that India-Israel ties are moving from buyer–seller dynamic to one focused on joint development & manufacturing partnership, a shift 'more durable' than traditional arms sales.
If Pathaan gave both conservatives and liberals room to hide, Dhurandhar extends no such courtesy. Aditya Dhar ripped open that tent of hypocrisy and turned the knife.
COMMENTS