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RPS Ventures sells 0.9% stake in Meesho for Rs 899.7 crore

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RPS Ventures sells 0.9% stake in Meesho for Rs 899.7 crore

RPS Ventures sold 38.6 million shares in Meesho for approximately Rs 899.7 crore through multiple block deals. Major investors such as Norges Bank and Goldman Sachs bought the shares at Rs 233 each. Previously, early investors also offloaded their stakes in Meesho, reflecting changing market dynamics. Brokerage firm UBS updated its price target for Meesho due to improved growth expectations and margin estimates.

RPS Ventures , a fund set up by former SoftBank Vision Fund managing partner Kabir Misra , on Wednesday sold 38.6 million shares in ecommerce marketplace Meesho for Rs 899.7 crore through multiple block deals , according to BSE data. Norges Bank, Fidelity, Goldman Sachs, Morgan Stanley and Citigroup were among the buyers of the shares, which represent a 0.9% stake in Meesho. The shares changed hands at Rs 233 apiece. Meesho’s stock ended 1.6% lower at Rs 236.35 on the BSE. As of June 30, RPS Ventures held a 1.2% stake in Meesho. The fund, which has also backed companies such as Delhivery and Acko, first invested in Meesho in 2018 as part of a $50-million funding round that valued the company at $200-250 million. Advt

3% stake in the company through block deals worth around Rs 1,900 crore. In a research note dated September 22, brokerage firm UBS raised its price target for Meesho to Rs 260 from Rs 210 while retaining its Buy rating, citing higher growth and improving margins. The brokerage raised its FY29-31 net merchandise value (NMV) estimates for Meesho by 7-18% and Ebitda estimates by 20-40%.


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