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    Meesho Faces Investor Pushback Over Anchor Share Allotment to SBI Funds

    1 month ago

    Yugcharan News | Business Desk | December 2, 2025

    Indian e-commerce platform Meesho is facing resistance from several major institutional investors after a significant portion of its anchor share allotment was reportedly offered to SBI Funds Management, the country’s largest asset manager, according to people familiar with the matter.

    Meesho is preparing to open its anchor book on Tuesday ahead of its initial public offering (IPO), which launches on Wednesday. The anchor book is a reserved portion of shares meant for institutional investors.

    Sources said that about one-fourth of the shares in the anchor tranche were expected to go to SBI Funds, prompting other large investors to withdraw their interest. Among those who reportedly opted out are Capital Group, Aberdeen Group, Norges Bank Investment Management, ICICI Prudential Asset Management, Nippon India Life Asset Management, and Nomura Asset Management. Many of them had sought allocations similar to SBI Funds and chose to step back after being offered smaller portions, the sources said.

    Despite the withdrawals, Meesho’s anchor list still includes several prominent global investors, including GIC, the Abu Dhabi Investment Authority, Fidelity International, BlackRock, Baillie Gifford, WCM Investment Management, and Dragoneer Investment Group. The final list may change as the allotment process is still underway.

    The development highlights the strong interest in Indian tech companies as they move toward the public markets. Recent offerings from digital platforms such as Urban Co. and Billionbrains Garage Ventures Ltd. — parent company of Groww — have seen robust demand, underscoring the rapid growth of online services and consumer-focused technology businesses.

    Meesho, headquartered in Bengaluru, connects small manufacturers with buyers in smaller cities and aims to raise up to ₹54.2 billion through its IPO. The shares are priced between ₹105 and ₹111 each. Existing investors, including Elevation Capital, Peak XV Partners, and the company’s founders, will also sell shares in the offering.

    Representatives of the involved asset managers and Meesho did not comment on the matter.

     

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