Elevation Capital, Peak XV Partners sell 2.3% stake in Meesho for Rs 1,949 crore; stock falls
Following the stake sale, Meesho's shares fell nearly 1 per cent on Wednesday to trade at Rs 190.50 apiece on the National Stock Exchange (NSE).
Private equity firms Elevation Capital and Peak XV Partners have sold a combined 2.3% stake in e-commerce platform Meesho for ₹1,949 crore through open market transactions, according to National Stock Exchange data. The sale was executed on Tuesday at an average price of ₹186 per share, reducing Elevation Capital's stake to 10.91% from 12.04% and Peak XV Partners' stake to 8.93% from 10.06%.
Despite the divestment, both firms remain among Meesho's largest shareholders, along with Naspers and SoftBank. Other investors in the deal included domestic mutual funds, insurance companies, and foreign institutional investors such as Societe Generale, Prudential Hong Kong, Morgan Stanley, and Goldman Sachs.
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