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RPS Ventures, an early investor in e-commerce platform Meesho, offloaded 3.86 crore shares in the Bengaluru-based company for around Rs 900 crore through multiple block deals on the BSE on Wednesday. According to stock exchange data, RPS Ventures through RPS WOS II LLC offloaded 3,86,13,960 equity shares at Rs 233 per share, representing approximately 0.83% stake in Meesho. The transaction was valued at Rs 899.71 crore. RPS Ventures, a fund founded by former SoftBank Vision Fund managing partner Kabir Misra, held a 1.12% stake in Meesho as of June 2026. Following the latest transaction, its holding is estimated to have declined to around 0.29%. The shares were acquired by a mix of domestic and foreign institutional investors. The Government of Singapore emerged as the largest buyer, acquiring 1.32 crore shares worth approximately Rs 307.5 crore, followed by Mirae Asset Mutual Fund, which purchased 77.21 lakh shares worth Rs 179.9 crore. Other buyers included Societe Generale, BNP Paribas, Fidelity Advisor Overseas Fund, Citigroup Global Markets Singapore, Norges Bank on account of the Government Pension Fund Global, Ghisallo Master Fund, Morgan Stanley Asia Singapore, WhiteOak Capital Mutual Fund, Bajaj Life Insurance and Edelweiss Mutual Fund. The transaction follows a series of stake sales by Meesho's early investors. Earlier this month, Japanese investment giant SoftBank sold 8 crore shares, representing a 1.73% stake worth Rs 1,650.4 crore. SoftBank held an 8.60% stake in the company as of June 2026. In August, Peak XV Partners and Elevation Capital offloaded a combined 2.27% stake in Meesho through block deals worth around Rs 1,949 crore. This was followed by Y Combinator's stake sale worth approximately Rs 970 crore. Meesho reported a 48% year-on-year growth in operating revenue to Rs 3,713 crore in Q1 FY27, while its net loss narrowed 54% to Rs 133 crore from Rs 289 crore in the corresponding quarter last year. At the end of Wednesday's trading session, Meesho's shares closed at Rs 236.35 on the BSE, with a total market capitalization of Rs 1,09,341 crore ($11.5 billion).
document fetched 2026-09-24 02:53