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.
Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
