Meesho Invests ₹400 Crore In Payments Subsidiary Through Rights Issue To Expand Lending Business
E-commerce company Meesho has infused Rs 399.99 crore into its wholly owned subsidiary, Meesho Payments Private Limited (MPPL), through a rights issue to strengthen its lending operations and support future expansion. According to a regulatory filing on Tuesday, Meesho subscribed to 1,14,28,571 fully paid-up equity shares of MPPL, representing an investment of more than 1.14 crore shares. Each…
E-commerce firm Meesho has bolstered its lending operations by injecting Rs 399.99 crore into its wholly-owned subsidiary, Meesho Payments Private Limited, through a rights issue, according to a regulatory filing on Tuesday. Meesho acquired 1,14,28,571 equity shares of MPPL, representing more than 1.14 crore shares at a premium of Rs349 per share.
This capital infusion enables the subsidiary to bolster its business activities, enhance operational capabilities, and comply with regulatory requirements, enhancing its ability to develop financial products and services that align with evolving market needs.
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