Meesho Shares Plunge 10% After Doubling, ₹1 Lakh Crore Market Cap Hit

• Meesho shares fell 10% from their intraday high on Thursday, December 18, losing initial gains.
• The stock had doubled from its IPO price of ₹111, reaching ₹1 lakh crore market capitalization.
• At its day's high of ₹233.6, the stock was up 110% from its issue price, surging over 30% since its December 10 debut.
• Meesho's ₹5,421 crore IPO was subscribed 79 times overall, with retail investors subscribing 19 times and QIBs 120 times.
• Limited free float (6%) exaggerates price movements; the real test comes January 6 when the lock-in opens.

Why It Matters: Meesho shares saw a significant drop after an initial surge, highlighting volatility due to low free float.