SoftBank Group-backed investment vehicle SVF II Meerkat (DE) LLC is likely to divest around 1% stake in e-commerce platform Meesho through a block deal worth Rs 1,174 crore, according to reports.
The floor price for the transaction has been set at Rs 246.23 per share, representing a discount of around 3.1% to Meesho’s closing price of Rs 254.15 apiece on Thursday.
SVF II Meerkat (DE) LLC held 31,63,60,762 shares, representing a 6.84% stake in Meesho, at the end of the September quarter of FY27, according to exchange data. Following the proposed transaction, its shareholding is expected to decline to around 5.8%, assuming no other transactions take place in the interim.
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Meesho Q2 results
Meesho reported a 67.8% year-on-year reduction in its consolidated net loss to Rs 132.45 crore in the September quarter of FY27 (Q2FY27), compared with a loss of Rs 411.36 crore in the corresponding quarter of the previous financial year. Revenue from operations increased 34.4% year-on-year to Rs 4,131.58 crore in Q2FY27 from Rs 3,073.67 crore in Q2FY26. Total expenses rose 23.8% to Rs 4,382.27 crore from Rs 3,540.44 crore in the year-ago quarter.
On a sequential basis, the company’s net loss remained broadly unchanged at Rs 132.45 crore, compared with Rs 132.84 crore in the June quarter. Revenue from operations increased 11.3% quarter-on-quarter to Rs 4,131.58 crore from Rs 3,712.81 crore.EBITDA loss stood at Rs 229 crore, compared with Rs 225 crore in the preceding quarter.
The e-commerce marketplace also reported growth across key operating metrics. Annual transacting users increased 21% year-on-year to 284 million, while last-twelve-month purchase frequency rose 7% to 10.4. First-time buyers increased 16% sequentially, and annual transacting sellers grew 60% year-on-year to 1.13 million.
Meesho acquires 92.74% stake in Kirana Club
In a separate development, Meesho announced on November 7 that it had completed the first and second tranches of the acquisition of a 92.74% stake in Singapore-based Kirana Club Pte. Ltd. and its Indian step-down subsidiary, Retail Pulse Labs Private Limited (RPLPL).
The acquisition was completed for an aggregate consideration of Rs 186.71 crore. Following the transaction, Kirana Club became a subsidiary of Meesho, while RPLPL became its step-down subsidiary.
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