E-commerce company Meesho Ltd witnessed significant block deal activity on Thursday, with 80 million shares changing hands across four separate transactions, equivalent to approximately 1.73% of the company's equity. The first two block deals involved 35.3 million Meesho shares, while the remaining two transactions saw 44.7 million shares change hands. According to NSE data, the transaction was worth ₹1,650.40 crore, with the shares changing hands on the NSE. However, the identities of the buyers and sellers, along with the exact transaction values, were not immediately available. This substantial trading activity comes as Meesho remains in focus following recent secondary share-sale activity involving existing investors.
Japanese multinational investment holding firm SoftBank has successfully completed a block deal transaction for Meesho Ltd, selling 8 crore shares worth ₹1,650.4 crore at an average price of ₹206.3 per share on Thursday, September 3. The transaction represents a significant increase from the previously reported ₹1,435 crore deal, with the floor price set at ₹205 per share and a 2.5% discount to the closing price of ₹211.6 on NSE. Bank of America (BofA) and JP Morgan are expected to serve as the bankers for the deal, with the term sheet specifying a 60-day lock-up period for the seller. SoftBank's special purpose investment vehicle and subsidiary SVF II Meerkat DE held an 8.60% stake in Meesho as of the June 2026 quarter, making this a substantial divestment from the e-commerce company.
Meesho reported strong financial performance in the first quarter, with consolidated net loss narrowing to ₹132.8 crore from ₹289.3 crore in the previous year, while revenue from operations rose 48.3% year-on-year to ₹3,713 crore from ₹2,504 crore. The company's EBITDA loss also narrowed to ₹224.7 crore from ₹264.4 crore in Q1 FY26. Meesho's Net Merchandise Value (NMV) grew 34% year-on-year to ₹11,614 crore, while marketplace revenue increased 48% to ₹3,707 crore. The company's contribution margin expanded 54 basis points sequentially to 4.6% of NMV, and marketplace adjusted EBITDA improved to negative 1.2% of NMV. Annual transacting users rose 29% year-on-year to 274 million, with purchase frequency improving to 10.3 transactions per user annually.
This sale follows significant recent activity in the secondary market for Meesho shares. On August 24, Y Combinator-linked entities sold 4.85 crore shares worth ₹970 crore through block deals, with Nippon India Mutual Fund, HDFC Standard Life Insurance Company, Edelweiss Mutual Fund and Franklin Templeton being the four disclosed buyers who purchased 2.34 crore shares for around ₹469.4 crore. The stock's lock-in for pre-IPO shares expired on June 9, making nearly 68% of such shares worth about ₹60,000 crore tradable immediately, as per JM Financial's estimates. SoftBank has also been active in other secondary transactions, selling large blocks in Lenskart Solutions worth ₹2,888 crore in August and ₹2,873 crore in June.
As per Moneycontrol reports, at the end of the June quarter, promoter entities held 16.41% stake in Meesho, while public shareholding was at 83.59%. Meesho reported strong financial performance in the first quarter, with net loss narrowing to ₹132.8 crore from ₹289.4 crore in the previous year, while revenue increased 48% to ₹3,712.8 crore from ₹2,503.9 crore. The company's EBITDA loss improved to ₹224.7 crore from ₹264.4 crore in the corresponding quarter last fiscal. Its net merchandise value (NMV) increased 34% to ₹11,614 crore from the year-ago period, demonstrating robust business growth despite ongoing losses. The company's market capitalisation reached just under ₹97,900 crore following the block deal transaction. Meesho operates an e-commerce marketplace and reported consolidated net revenue of ₹9,389 crore for the year ended March 2025.
