Meesho falls 3% on reported Elevation block deal as Q1 growth strengthens
Meesho shares fell 3.05% to Rs 177 amid reports that Elevation Capital may sell a roughly 12% stake. The marketplace reported 48% year-on-year Q1 revenue growth to Rs 3,712.8 crore, while EBITDA loss narrowed to Rs 224.7 crore. Broker targets range from Rs 185 to Rs 240.
Meesho shares fell amid reports that Elevation Capital may sell its stake through a block deal. The marketplace reported strong Q1 revenue, NMV and user growth with narrower losses, while broker targets range from Rs 185 to Rs 240.
Why this matters
The share decline follows Macquarie's Underperform call and Rs 125 target, while Meesho has pursued Kirana Club to expand B2B reach and faced Valmo insourcing delays at about half of shipments.
Retail-company is accelerating, up 387867% QoQ.