Shares in the two block deals changed hands at an average price of ₹206 per share, according to data available.
While a SoftBank unit is the likely seller in the transaction, buyers are not officially known yet.
Prior to the block deal on Thursday, sources said that the Meesho holder has upsized its share sale to $173 million or ₹1,634 crore from the previous $151 million or ₹1,435 crore.
On Wednesday, CNBC-TV18 reported, citing sources that SoftBank was likely to sell 7 crore shares or 1.5% of its stake of the e-commerce marketplace via a block deal at ₹1,435 crore. The floor price had been set at ₹205 apiece, sources added.
At the end of the June quarter, promoter entities held 16.41% stake in Meesho, while public shareholding was at 83.59%, as per data available on the stock exchangs.
Last week, Y Combinator sold 4.85 crore shares, or 1.05% stake, in Meesho via a block deal for around ₹970 crore, as per data available on the National Stock Exchange. The shares were sold at an average rate of ₹200.01 apiece.
The transaction confirmed CNBC-TV18’s report prior to the block deal, which cited sources saying Y Combinator was looking at selling up to 1.05% of its stake in Meesho for ₹957.5 crore and the floor price had been set at ₹197.5 apiece.
Nippon India Mutual Fund, HDFC Standard Life Insurance Company, Edelweiss Mutual Fund and Franklin Templeton were the four disclosed buyers. Their cumulative purchase amounted to 2.34 crore shares for around ₹469.4 crore. The remaining shares from Y Combinator’s stake sale were bought by other investors which the exchange data did not disclose at the time.
Meesho reported a net loss of ₹132.8 crore in the first quarter compared to a loss of ₹289.4 crore in the previous year. Its revenue increased 48% to ₹3,712.8 crore from ₹2,503.9 crore.
The company’s earnings before interest depreciation and amortization (EBITDA) loss was at ₹224.7 crore in comparison to an EBITDA loss of ₹264.4 crore in the corresponding quarter last fiscal.
Its net merchandise value (NMV) increased 34% to ₹11,614 crore from the year-ago period.
Meesho shares were up 0.5% at ₹212.65 apiece at 9.20 am on Thursday. The stock has gained 11% in the past month and is up 17.11% this eyar, so far.
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