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Y Combinator sells 1.05 pc stake in Meesho for nearly Rs 970 crore

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Y Combinator sells 1.05 pc stake in Meesho for nearly Rs 970 crore

Y Combinator sells 1.05 pc stake in Meesho for nearly Rs 970 crore

The shares were disposed of at an average price of Rs 200.01 apiece, taking the aggregate deal value to Rs 969.63 crore.

New Delhi, Silicon Valley-based Y Combinator has sold a 1.05 per cent stake in e-commerce marketplace Meesho for nearly Rs 970 crore through open market transactions on Monday, days after selling shares in fintech firm Groww. Y Combinator, through its three affiliates, Y Combinator Continuity Holdings I LLC, YCS16 Holdings LLC, and YCVC Fund I LP, sold a total of 4,84,79,341 shares, or a 1.05 per cent stake in Bengaluru-based Meesho, as per the block deal data on the NSE. The shares were disposed of at an average price of Rs 200.01 apiece, taking the aggregate deal value to Rs 969.63 crore. The sale marks the second stake reduction by Y Combinator in a new-age company in less than a week. On August 18, it had divested a 1.2 per cent stake in fintech platform Billionbrains Garage Ventures, the parent company of Groww for Rs 1,435 crore. Advt

While Y Combinator reduced its holding, a diverse set of institutional investors stepped in on the other side of the Meesho trade. Mutual funds managed by Canara Robeco, Edelweiss, Franklin Templeton, HSBC, and Nippon India, while Aagam Investments -- an affiliate of NBFC firm Aagam Capital -- were among the domestic buyers of Meesho's shares. Among the insurers, Bajaj Life Insurance, and HDFC Life Insurance picked up shares of the company.


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