RPS Ventures Offloads Meesho Stake Worth About ₹900 Cr
Meesho backer RPS Ventures sold nearly 3.9 Cr shares of ecommerce major Meesho to net ₹899.7 Cr. As per BSE…
RPS Ventures, a venture capital firm co-founded by ex-Softbank executive Kabir Misra, sold a significant stake in e-commerce platform Meesho. The firm offloaded nearly 3.9 crore shares, equivalent to around 0.8% of Meesho's total equity, in a block deal. Each share was traded at ₹233, a 1.4% discount to the stock's closing price.
The sale was completed by Meesho's holding entity, RPS WOS II LLC. The deal fetched about ₹899.7 crore for RPS Ventures. The shares were snapped up by several major investors, including the Government of Singapore, Mirae Asset Mutual Fund, and Societe Generale. Other notable buyers included BNP Paribas Arbitrage, Fidelity, Citigroup, Norway's pension fund, Ghisallo Capital Management, Morgan Stanley, and WhiteOak Capital Mutual Fund.
The sale marks a 71% decrease in RPS Ventures' stake in Meesho, which had initially invested $50 million in the startup's Series C round in 2018.
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