India, Dec. 9 -- The cofounders and investors of Meesho, which is set to list on the exchanges tomorrow, got hefty returns from the ecommerce unicorn's IPO.

Y Combinator, which offloaded 71.9 Lakh shares via the IPO, raked in 108X return at the upper end of the IPO price band of INR 105 to INR 111 per share.

The company's IPO comprised a fresh issue of INR 5,421 Cr and an offer for sale of up to 10.6 Cr shares. The issue received strong investor interest and was oversubscribed 79.03X.

Elevation Capital, which offloaded the highest number of shares via the OFS at 2.4 Cr, bagged 37X return on its investment. The VC firm's average cost of acquisition of these shares was INR 3.04 apiece. Elevation Capital's remaining stake in the company i...