Meesho shares zoom 13% to fresh peak; market cap tops Rs 85,000 crore

Shares of newly listed Meesho surged 13.3% intraday on Tuesday to hit a fresh high of Rs 193.50 on the BSE, comfortably surpassing its listing-day peak of Rs 177.50. The rally pushed the company’s market capitalisation beyond Rs 85,000 crore, even as broader markets remained weak, signalling strong post-listing investor interest.

The move came with notable trading activity, as turnover stood at Rs 124.38 crore, and the total traded quantity was 66.84 lakh shares. The company’s market capitalisation stood at Rs 85,207.91 crore (full) and Rs 5,279.14 crore (free float), according to the BSE data.

Meesho had also received its first institutional rating from Choice Institutional Equities recently, which initiated coverage with a ‘BUY’ rating and a target price of Rs 200.


Choice Broking cited a “faster road to profitability” as a key upside trigger and valued Meesho at 4x FY28E EV/Revenue, supported by a three-stage DCF model and peer benchmarking.

Sensex, Nifty today: Catch all the LIVE stock market action here

The brokerage expects Meesho to deliver a 31% revenue CAGR between FY25 and FY28, citing “deep value-commerce penetration and logistics efficiencies” as core drivers. The report also highlighted Meesho’s zero-commission, low-AOV, discovery-led platform that serves Tier-2 and Tier-3 users, as well as its competitive edge in user growth and operational scale.

Meesho’s EBITDA is projected to turn positive by FY27E, and Meesho currently trades at 2.4x FY28E EV/Revenue, compared to the peer average of 5.4x, leaving “headroom for re-rating as fundamentals strengthen,” the report noted.

Also read: Ashish Kacholia to Mukul Agrawal: Star investor tag no guarantee for returns as 7 of 10 stock portfolios see losses in 2025

However, post today's rally, Utsav Verma, Head of Research at Choice Institutional Equities further stated, "Our base-case target price of INR 200 implies limited near-term upside from current levels, while our bull-case valuation of INR 234 reflects stronger-than-expected improvements in monetisation, operating leverage and execution on the path to profitability."

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)