04
Dec
Meesho’s choice to allocate an unusually large portion of its ₹2,439-crore anchor book to SBI Mutual Fund was made directly by its leadership rather than by its investment bankers, according to several people aware of the discussions. The decision highlights a broader trend in India’s IPO market, where companies are increasingly holding early conversations with potential investors, negotiating allocations themselves and, at times, disregarding banker advice. The situation also underscores the lack of a clear framework for “fair” anchor distribution, leaving room for subjective calls that can trigger disagreements among institutional investors. The allocation sparked rare dissent among major funds.…
