Meesho stock soars 53% on debut, valuation reaches Rs 77,000 crore

• Meesho's shares debuted with over a 53% premium against the issue price of Rs 111.
• The e-commerce firm's market valuation reached approximately Rs 77,000 crore on its listing day.
• The stock opened at Rs 162.50 on NSE, a 46.40% increase from its issue price.
• Meesho's Rs 5,421-crore IPO was subscribed 79.02 times, with a price band of Rs 105-111 per share.
• Proceeds from the IPO will fund cloud infrastructure, marketing, brand initiatives, and strategic acquisitions.

Why It Matters: This IPO shows strong investor confidence in the e-commerce market.