India, Dec. 3 -- Ecommerce major Meesho's IPO got off to a strong start, with retail investors' portions fully subscribed within a few hours.

The issue was subscribed 52% as of 12:05 IST, with investors bidding for 14.56 Cr shares against 27.79 Cr shares on offer.

Retail investors placed bids for 9.92 Cr shares against 5.1 Cr shares reserved for them, translating to 1.95X subscription.

Non-institutional investors (NIIs) bid for 4.6 Cr shares against 7.6 Cr shares on offer. The portion reserved for them was subscribed 60%.

However, the response of qualified institutional buyers (QIBs) was muted on the first day, as they placed bids for a mere 3.2 Lakh shares against 15.03 Cr shares reserved.

Following its public issue, Meesho will bec...