Y Combinator is set to sell a 1.05% stake in Meesho through a block deal on Monday, sources told NDTV Profit. The transaction is valued at Rs 957.5 crore, with the block price set at Rs 197.5 per share. The deal is being offered at a discount of up to 4% to Meesho's previous closing price.
Y Combinator will be subject to a 30-day lock-in period for any further stake sale following the transaction. Kotak is the broker to the block deal.
Shares of Meesho Ltd. on Friday closed at Rs 206, 1.68% down. The stock fell as much as 2.47% to an intraday low of Rs 204.33 on the BSE. It has risen 20469.00% in the last 12 months and 14.13% year-to-date. The relative strength index was at 66.51.
At the start of August around 104.8 million shares, representing 2.27% of the company's equity, changed hands in two block deals. The transactions were executed at an average price of Rs 186 per share, taking the total deal value to about Rs 1,949 crore. The identities of the buyers and sellers were not immediately known.
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Meesho Q1FY27 Results
For the Q1FY27 The e-commerce platform posted a net loss of Rs 132.8 crore, compared with a loss of Rs 289.3 crore a year earlier, while revenue rose 48.3% year-on-year to Rs 3,713 crore. Loss at the Ebitda level narrowed to Rs 224.7 crore from Rs 264.4 crore in the corresponding quarter last year.
The company also reported a 34% year-on-year increase in Net Merchandise Value (NMV) to Rs 11,614 crore, while marketplace revenue climbed 48% to Rs 3,707 crore.
Contribution margin expanded 54 basis points quarter-on-quarter to 4.6% of NMV, and marketplace adjusted EBITDA improved to -1.2% of NMV.
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