SoftBank Offloads Meesho Stake Worth ₹1,650 Cr

After paring stake in Lenskart, global tech investor SoftBank offloaded 8 Cr equity shares in ecommerce platform Meesho, representing a 1.7% stake, in the company for ₹1,650.40 Cr, as per NSE data today. 

SoftBank’s investment entity, SVF II Meerkat DE, dumped the shares in two tranches at a weighted average price of ₹206.30 per share. This represents a 1.6% discount to the stock’s closing price. 

Picking up 96.7 Lakh shares through two different entities, Franklin Templeton was the biggest buyer, followed by Societe Generale who bought 80 Lakh shares. Global financial services giant Fidelity acquired 66.7 Lakh shares through nine different entities, while four entities associated with Manulife picked up a combined 50.3 Lakh shares. 

The likes of HDFC Standard Life Insurance, Goldman Sachs, Motilal Oswal, Morgan Stanley, and HSBC Mutual Fund, as well as the sovereign wealth funds of Kuwait, Oman and Norway, also absorbed some of the shares that flooded the market. 

SoftBank held 39.6 Cr shares in Meesho, amounting to 8.6% of the company’s total equity, according to disclosures made at the end of the June quarter. 

The investment firm has been on somewhat of a selling spree lately in the context of Indian new-age tech stocks. Last week, it dumped 4.50 Cr shares of omnichannel eyewear retailer Lenskart to mint ₹2,887.9 Cr. This was the second time it sold Lenskart shares in recent months as it had earlier offloaded shares worth ₹2,873.3 Cr back in June. 

Besides, SoftBank has also been reducing its stake in new-age logistics firm Delhivery. In total, it cut its stake from 9.67% in September 2024 to 7.61% in June 2026. 

On the other hand, Meesho has also seen quite a number of investor partial exits in recent times. Y Combinator sold 4.9 Cr shares of the ecommerce platform last week, raking in approximately ₹969.6 Cr, while Elevation Capital and Peak XV Partners sold shares worth ₹974.6 Cr each a few weeks prior.

Additionally, Fidelity sold 5.98 Cr shares of Meesho worth ₹988.44 Cr earlier in June. 

On the financial front, Meesho cut its net loss by 54.1% YoY to ₹132.8 Cr in Q1 FY27 while operating revenue for the quarter surged 48% to ₹3,707 Cr. 

In terms of operating metrics, the net merchandise value of goods sold on its platform rose 34% YoY to ₹11,614 Cr in the quarter, while its number of annual transacting users also grew 29% to 27.4 Cr.

Notably, the scrip has been performing well lately. Meesho’s stock rose nearly 9.5% in the past one month, and is up nearly 40% over the past six months. 

Shares of Meesho ended the day 0.88% lower at ₹209.74 on the NSE.

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