India, Dec. 11 -- Despite an explosive debut on the Indian exchanges, or possibly because of it, a few analysts scaled up the stock's target price to Rs 200, or 80 per cent higher than the offer price (Rs 111). The listing gain for Meesho Ltd, an e-commerce platform, was more than Rs 50, or over 45 per cent, and higher than the pre-listing grey market premium of Rs 43. On the first trading day, Day Zero as CEO Vidit Aatrey described it, the stock scaled a high of over Rs 177, and ended at just over Rs 170, or over 50 per cent higher than the offer price.

At the listing ceremony, Aatrey said that there were still millions of Indians who had never transacted online, and this section that the firm wished to serve was just beginning to open....