Atre holds 11.1% stake in Meesho, which is equivalent to 47.25 crore shares. Stock on BSE Rs. Touching an intra-day high of 193.50, his net worth stood at Rs. 9,142.87 crore or about $1.005 billion. Co-founder Sanjeev Baranwal, who holds 31.6 crore shares, now has Rs. 6,114.6 crore is the share.
Shares of Meesho on Tuesday traded at Rs. 193.50 to Rs. 177.50 to a listing-day high of Rs. 161.20 above the listing price. Just days after the company entered the public market, the stock is now trading at Rs. 111, an increase of 74.3% from its issue price, cementing a blockbuster debut.
From IIT Delhi to the billionaires club
Atre studied Electrical Engineering at the Indian Institute of Technology, Delhi, completing his B.Tech in 2012. After graduation, he joined ITC Limited, working in operations in Chennai from June 2012 to May 2014, before moving to InMobi, where he worked on strategy between June 2014 and June 2015 in Bengal.
He has been leading Meesho as its Chief Executive Officer since June 2015. Born in 1991, Atrey has featured in several youth leadership rankings, including Forbes 30 Under 30 (Asia & India, 2018) and Fortune 40 Under 40 (2021).
Misho’s debut rewrote the script
Meesho entered the stock market on December 10, listed at a premium to its issue price and had its first session at Rs. 111 closed 53% above the IPO price. After two days of declines, the stock rebounded, rising more than 3% on Monday before extending its rally on Tuesday, even as broader markets remained under pressure.
Trading activity in the stock remained strong. With a total traded volume of 66.84 lakh shares the turnover was Rs. 124.38 crores. According to BSE data, Meesho’s market capitalization on a full basis is Rs. 85,207.91 crore and on free-float basis Rs. 5,279.14 crore was fixed.
The first organizational call adds momentum
The rally has been further bolstered by Mishaw’s first institutional rating. Choice Institutional Equities has recently given ‘Buy’ rating and Rs. Initiated coverage with a target price of 200.
Choice Broking cited an “accelerated path to profitability” as a key upside trigger and said it values Mishaw at 4x FY28E EV/Revenue, supported by a three-phase DCF model and peer benchmarking. The brokerage expects Meesho to deliver a 31% revenue CAGR between FY25 and FY28, driven by “deep value-trade penetration and logistics efficiencies”.
The brokerage cited Mishaw’s zero-commission, low-AOV, search-based platform focused on tier-2 and tier-3 users, with what it described as a competitive edge in user growth and operational scale. Meesho is projected to turn EBITDA positive by FY27E.
At current levels, Meesho trades at 2.4x FY28E EV/Revenue, compared with a peer average of 5.4x, leaving “headroom for re-rating as fundamentals are strong,” the report noted.
Choice also flagged execution risks, including high reliance on cash-on-delivery, which accounts for 77% of order mix, and logistical fragmentation. Nevertheless, Deeksha positions Meesho as a significant e-commerce player on the Street’s radar in India’s underpenetrated online retail market.
Also Read | IITian Vidit joins billionaire club here as Meesho shares rocket to 74% of issue price
Meesho IPO sets the tone for demand
Meesho’s three-day IPO is priced at Rs. 5,000 crores, which appealed to institutional and retail investors alike. The issue was oversubscribed 79 times overall, the retail portion was oversubscribed 19 times.
The tranche, reserved for qualified institutional buyers, was subscribed to 120 times the shares on offer, setting the stage for a post-listing boom that has now catapulted its co-founder into the billionaire ranks.
(disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. (These do not represent the views of The Economic Times)
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