By Admin 
Meesho founder Joins Billionaire club: Meesho shares have performed strongly in the stock market and given excellent returns to the investors. Amidst the ongoing strength in the market, there was a tremendous rise in the shares of Meesho on Tuesday and during intra-day trading it jumped by about 13 percent to reach a record level of Rs 193.50, which is its 52-week high so far. A day earlier i.e. on Monday this share had closed at Rs 170.75. With this sharp rise, Meesho founder Vidit Atre has now joined the list of billionaires.
Meesho’s IPO had already made a big entry in the market. Its issue price was Rs 111 and at the time of listing it hit the market with a premium of about 46 percent. Since then, there has been strong interest from investors in the stock. If we look at the current level, Meesho’s shares have so far increased by about 75 percent compared to the issue price, due to which early investors have made huge profits.
Vidit Atre holds about 47.25 crore shares of Meesho, which is equivalent to about 11.1 percent stake in the company. Based on the intra-day high level of the shares on Tuesday, the total value of his stake reached around Rs 9,128 crore, which is equivalent to approximately $1 billion. For this reason, Vidit Atre has now officially come into the category of billionaires.
Company co-founder Sanjeev Burnwal also holds about 31.6 crore shares of Meesho. According to the current share price, the value of his stake is approximately Rs 6,099 crore. The continuous strong listing gains since the IPO and the confidence of investors have made Meesho the center of discussion in the market.
It is noteworthy that Meesho was started in the year 2015 by Vidit Atre and Sanjeev Barnwal. This platform has rapidly emerged as the country’s biggest social commerce platform. Meesho gives small businessmen and entrepreneurs an opportunity to sell their products through social media and messaging apps. The company has also attracted global investors like Meta, SoftBank due to its business model and rapidly growing user base.
This rise in Meesho shares not only reflects the strong growth story of the company, but also shows that investors are expressing confidence in new age tech and social commerce companies. In the coming times, the market will keep an eye on the business expansion and financial performance of the company.