Meesho under fire from investors over SBI Funds allotment

Meesho Ltd's anchor book faced a setback after several major investors pulled out when the Indian e-commerce firm was said to have allocated about a quarter of the shares in this tranche to SBI Funds Management Pvt,, the country’s largest asset manager, according to people familiar with the matter.

- Bloomberg

That decision triggered a pushback from other large funds, the people said, asking not to be identified as the information is private. Meesho is set to open its anchor book— a portion of shares reserved for institutional investors—on Tuesday ahead of its initial public offering that launches on Wednesday.