Meesho shares worth ₹1,949 crore change hands in block deal
A 10.48-crore-share block deal, equal to 2.27% of Meesho’s equity, was executed at an average ₹186 a share. Peak XV Partners and Elevation Capital were cited as likely sellers, while Meesho shares closed 1.3% higher.
Meesho saw a ₹1,949 crore block deal for 10.48 crore shares, likely involving Peak XV and Elevation Capital. The e-commerce platform recently narrowed quarterly losses as revenue rose 48%, while it increases customer-acquisition spending ahead of the festive season.
Why this matters
The block deal follows Meesho’s recent focus on reseller-led digital commerce and using reseller networks to bring India’s unorganised retail online.
Retail-company signals are accelerating, up +199543% QoQ.