RPS Ventures sells 0.9% stake in Meesho for Rs 899.7 crore
As of June 30, RPS Ventures held a 1.2% stake in Meesho. Norges Bank, Fidelity, Goldman Sachs, Morgan Stanley and Citigroup were among the buyers of the shares. The shares changed hands at Rs 233 apiece. Meesho’s stock ended 1.6% lower at Rs 236.35 on the BSE.
RPS Ventures, a fund led by former SoftBank Vision Fund partner Kabir Misra, recently sold a 0.9% stake in ecommerce platform Meesho for Rs 899.7 crore through multiple block deals, according to Bombay Stock Exchange (BSE) data. The buyer list included financial giants such as Norges Bank, Fidelity, Goldman Sachs, Morgan Stanley, and Citigroup, who acquired 38.6 million shares at Rs 233 each.
Meesho's stock fell 1.6% to close at Rs 236.35 on the BSE. Prior to this sale, RPS Ventures owned a 1.2% stake in Meesho, which it acquired in a 2018 $50-million funding round that valued the company between $200-250 million. This transaction follows a similar move by Meesho's initial investors Peak XV Partners and Elevation Capital in August, who offloaded a combined 2.3% stake in the company through block deals worth Rs 1,900 crore.
UBS research noted that Meesho's growth potential lies in its expanding seller base, improved margins, and rising advertising revenue, which surpassed 3% of sales in Q1 2027, leading to an upward revision of its price target for the platform.
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