Meesho faces investor protest over anchor allotment to SBI Funds
(Bloomberg) — 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.
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.
