Y Combinator sells 1.05% Meesho stake for nearly ₹970 crore
The latest block transaction saw several mutual funds, insurers and overseas investors emerge as buyers of the e-commerce company’s shares.
Y Combinator, the Silicon Valley-based startup accelerator, has sold a 1.05% stake in the e-commerce marketplace Meesho for nearly ₹970 crore through open market transactions. This follows a similar stake sale in fintech firm Groww earlier this month. The shares were disposed of at an average price of Rs 200.01 apiece, resulting in an aggregate deal value of Rs 969.63 crore.
The transaction was completed through three affiliates of Y Combinator and marked the second stake reduction by the venture capital firm in a new-age company in less than a week. The sale attracted a diverse set of institutional investors, including mutual funds managed by Canara Robeco, Edelweiss, Franklin Templeton, HSBC, and Nippon India, as well as foreign investors such as Societe Generale, BNP Paribas Financial Markets, BofA Securities, Citigroup Global Markets Mauritius, and Goldman Sachs.
Brief written by urgent.news from Hindu BusinessLine's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
