Meesho shares: 8 crore sold for ₹1,650.4cr, buyer unknown
Business
Meesho just saw a massive block deal: eight crore shares (1.73% of the company) changed hands for ₹1,650.4 crore at ₹206 per share on September 3.
Reports hint that SoftBank might be the seller, but who bought in is still a mystery.
The seller even bumped up their offer size before closing the deal.
Meesho revenue ₹3,712.8cr, losses nearly halved
This isn't the first big move lately: just days earlier, Y Combinator sold 4.85 crore shares for ₹970 crore, with big names like Nippon India Mutual Fund and HDFC Standard Life Insurance Company among the buyers.
On the business side, Meesho cut its losses nearly in half this quarter and boosted revenue by 48% year-on-year to ₹3,712.8 crore.
Its net merchandise value also jumped 34%, showing some solid growth behind all these headline-making deals.