Meesho Board Approves ₹400 Crore Investment In MPPL, USD 650,000 In Kirana Club, Incorporates New Subsidiary
Mumbai: Meesho Limited on Wednesday announced its board of directors has approved a significant investment of up to ₹400 crore in its wholly owned subsidiary, Meesho Payments Private Limited (MPPL). The investment will be made through subscription to rights issue or further issue of capital in one or more tranches. Payments Arm Performance MPPL reported a turnover of ₹1,104.65 lakh and a net loss…
OnEMI Technology Solutions Ltd has approved a ₹624.15 crore rights issue to bolster its wholly-owned subsidiary, Si Creva Capital Services Private Limited. The investment, made through the subscription of 23,37,516 equity shares at ₹2,670.14 per share (including a ₹2,660.14 premium), will be used to augment Si Creva's capital base to meet future growth requirements.
At least 75% of the proceeds will be allocated towards increasing Si Creva's capital. Si Creva, incorporated in July 2015, is a Middle Layer Non-Deposit Taking Non-Banking Financial Company in India, with a fiscal year 2025-26 turnover of ₹1,541.33 crore. The investment, expected to be completed by the end of December 2026, is a related party transaction under Section 2(76) of the Companies Act, 2013.
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