Y Combinator Offloads Meesho Shares Worth ₹970 Cr
US-based startup accelerator Y Combinator offloaded 4.85 Cr shares of listed ecommerce platform Meesho, around a 1% stake, via multiple…
US-based startup accelerator Y Combinator sold off 4.85 crore shares of ecommerce platform Meesho, representing about a 1% stake, through multiple block deals according to National Stock Exchange (NSE) data. The shares were distributed among Y Combinator Continuity Holdings I, YCS16 Holdings, and YCVC Fund I. Collectively, the sale fetched approximately ₹969.6 crore for the tech startup.
The average transaction price was ₹200.01 per share, a 2.5% discount to Meesho's closing price of ₹205.07. Major buyers included Nippon India Mutual Fund, HDFC Standard Life Insurance Company, Franklin Templeton, and Morgan Stanley Asia Singapore. This is the second significant instance of institutional investors reducing their stake in Meesho, following Elevation Capital and Peak XV Partners selling shares worth ₹974.6 crore each in the first week of August.
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