Shares of e-commerce platform Meesho, aerospace manufacturer Aequs, and wire-maker Vidya Wires debuted on Wednesday with varied results, following strong investor demand that led to listing gains of 53%, 22%, and 2%, respectively.
Meesho
Meesho made a notable debut, experiencing a 53% surge in shares. The shares opened at ₹162.50 on the NSE, representing a premium of over 46% compared to the issue price of ₹111. On the BSE, the listing price was ₹161.20, reflecting a 45.2% premium. The stock closed at ₹170.20 on the BSE and ₹170.09 on the NSE.
The ₹5,421-crore IPO was subscribed 79.02 times, featuring a price band of ₹105–111. The offering included a fresh share sale of ₹4,250 crore along with an Offer for Sale (OFS) of 10.55 crore shares worth ₹1,171 crore.
Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, noted that the strong listing occurs amid increasing competition from larger players in the e-commerce sector, the need for clearer regulations concerning discounting practices and small-seller protections, and Meesho’s ongoing challenge to maintain profitability in a price-sensitive marketplace. Nyati recommended that investors book partial profits while holding onto some shares for the medium to long term and suggested a stop-loss near ₹130 to manage short-term volatility.
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, described the debut as exceeding expectations, indicating that investors with a higher risk appetite might consider holding the stock for 12 to 18 months.
Brokerage firm Choice Institutional Equities provided a buy rating for Meesho with a target price of ₹200, suggesting a 23% upside from the listing price. The firm emphasized Meesho’s potential for capturing the next phase of value-driven e-commerce growth due to its extensive reach in Tier-2 and Tier-3 markets, its zero-commission model, and the rapid development of its logistics arm, Valmo. They highlighted improving unit economics and projected reaching EBITDA breakeven by FY27, with a compound annual growth rate (CAGR) of 31% in revenue through FY28. However, they also warned of competition from Amazon Bazaar and Flipkart’s Shopsy, as well as Meesho’s high dependence on cash-on-delivery and logistical challenges.
Proceeds from the IPO will be used to expand cloud infrastructure, enhance marketing efforts, pursue acquisitions, and meet general corporate purposes.
Aequs
Aequs debuted at ₹140 on both the BSE and NSE, demonstrating a nearly 13% premium over its issue price of ₹124. Shares closed at ₹151.50 on the BSE and ₹151.29 on the NSE.
Shivani Nyati described Aequs’ market debut as moderate compared to higher expectations but indicative of a positive outlook for the company. She underscored Aequs’ capability to scale operations and strengthen customer relationships, despite potential risks related to sector cyclicality and capital-intensive execution.
Nyati recommended that investors consider booking partial profits post the 13% listing gain while retaining some shares for medium- to long-term holding. She suggested that short-term traders should maintain a stop-loss near ₹120 to navigate early market fluctuations. Overall, this debut reinforces confidence in India’s ambitions in precision engineering and aerospace manufacturing.
Prashanth Tapse reiterated a long-term hold recommendation for Aequs based on its competitive positioning and global customer relationships. The company’s ₹922-crore IPO was notably subscribed 101.63 times on the closing day, within a price band of ₹118–124, and included a fresh sale of shares worth ₹670 crore alongside an OFS of 2.03 crore shares valued at ₹252 crore from promoters and existing shareholders.
Vidya Wires
Vidya Wires closed with a 2% gain after a subdued start, listing at ₹52.13 on the BSE and at the issue price of ₹52 on the NSE. The stock opened at ₹53.14 on the BSE and ₹53.17 on the NSE.
The ₹300-crore IPO was subscribed 26.59 times, featuring a price band of ₹48–52, comprising a fresh component of ₹274 crore and an OFS of 50.01 lakh shares worth ₹26 crore. Proceeds will be allocated for capital expenditures at a subsidiary, debt repayment, and general corporate purposes.
