Y Combinator is set to sell up to 1.05% of its stake in Meesho for ₹957.5 crore, sources told CNBC-TV18. The floor price has been set at ₹197.5 per share, up to a 4% discount to its previous close.
Y Combinator will have a 30-day lock-in for further share sale, sources said.
At the end of the June quarter, promoter entities held 16% stake in Meesho while public shareholding comprised 84%, as per data available on the exchanges.
The company’s net loss narrowed 54% to The company reported its first quarter earnings last month. ₹132.8 crore from The company reported its first quarter earnings last month. ₹289.4 crore last year. Its revenue increased 48% to ₹3,712.8 crore from the previous fiscal.
Meesho’s net merchandise value grew 34% to ₹11,614 crore during the quarter. Its contribution margin improved to 4.6% in the June quarter from 4% sequentially.
Meesho shares ended the previous session 1.7% lower at ₹206 apiece. The stock has increased 8.5% in the past month and 13.45% this year, so far.
