I have got the Meesho IPO, and today it was listed at 46% and then it went up another 7% and I have sold it for 53%. Meesho is India's leading social e-commerce platform, which connects small sellers and resellers with buyers. Now what's great about Meesho is that it has budget options, as well as it helps people earn some commission.
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I have seen people earning some income with Meesho by just being a reseller. They just have to paste the link in their WhatsApp, and some people, when they buy using that link, get some commission. We have also got some products from Meesho, and it seems to be a good quality, not that great, but it were value for money. The price point of the IPO per share gives them the edge.
The problem with a lot of IPOs is that it seems quite expensive, and the room to grow decreases, whereas I feel Meesho's price point was perfect, and thus it has given so good returns. Now, coming to me, I have sold all my shares. This is because I suffered some losses in the recent past for IPOs like LG Electronics, Cello World, as well as NSDL. They have given some good returns at the listing, but fall after that.
So I didn't want to take a risk and sold on the first day itself with 53% returns. Hopefully, I will be doing this for the IPOs which are allotted in the future too. It's better to take a profit and then invest that in some other stocks rather than keeping it in the IPO. I know there are IPOs which have given a very good return after getting listed, too, but those are some edge cases. So better take the profit rather than feel sorry later.