Elevation Capital and Peak XV Partners sold a 2.3% stake in Meesho for ₹1,949 crore. The shares fell nearly 1% after the block deal, with buyers including domestic MFs and global funds.
Private equity firms Elevation Capital and Peak XV Partners sold a combined 2.3% stake in e-commerce marketplace Meesho for ₹1,949 crore through open-market transactions, according to block deal data on the NSE. The shares changed hands on Tuesday at an average price of ₹186 apiece, with the total deal size coming to ₹1,949.28 crore.
Following the stake sale, Meesho's stock slipped nearly 1% on Wednesday to trade at ₹190.50 on the National Stock Exchange.
Elevation Capital's affiliate Elevation Capital V Ltd and Peak XV Partners' arm Peak XV Partners Investments V together offloaded 10.48 crore equity shares, representing nearly 2.3% of the Bengaluru-based company. After the transaction, Elevation Capital's holding in Meesho fell to 10.91% from 12.04%, while Peak XV Partners' stake declined to 8.93% from 10.06%.
Despite the divestment, both firms remain among the largest public shareholders in Meesho, alongside Naspers and SoftBank. Naspers holds an 11.27% stake, while SoftBank, through its arm SVF II Meerkat (DE) LLC, owns 8.60%.
The buyers included a mix of domestic mutual funds, insurance companies, and global institutional investors. Domestic funds that picked up shares were UTI Mutual Fund, Kotak Mahindra MF, HSBC MF, Franklin Templeton MF, Aditya Birla Sun Life MF, Axis MF, and Edelweiss MF. Among insurers, Factory Mutual Insurance Company and ICICI Prudential Life Insurance participated. Foreign investors in the deal included Societe Generale, Prudential Hong Kong, Morgan Stanley, Goldman Sachs, Susquehanna International Group, Fidelity, Abu Dhabi Investment Authority, and Dendana Investments Mauritius.
Separately, Elevation Capital on Tuesday sold 10.20 lakh shares in One 97 Communications, the parent of Paytm, for over ₹139 crore through an open-market transaction.
AlphaScala data shows the stock's Alpha Score at 56/100 for Goldman Sachs and 55/100 for Morgan Stanley, both rated Moderate, with Prudential PLC at 57/100. Investors can track these stocks on their GS stock page, MS stock page, and PUK stock page.
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