The two venture capital firms together sold a 2.3% stake in Meesho, comprising 10.5 crore shares, for ₹1,949 crore.
Societe Generale emerged as the largest buyer, purchasing 1.12 crore shares for ₹208.3 crore.
Axis Mutual Fund acquired 1.07 crore shares worth ₹198.1 crore, while Aditya Birla Sun Life Mutual Fund bought 88.2 lakh shares valued at ₹164.1 crore.
Fidelity Funds purchased 84.1 lakh shares for ₹156.4 crore.
The shares changed hands at an average price of ₹186 apiece.
At the end of the June quarter, Peak XV Partners Investments V held a 10.06% stake in Meesho, while Peak XV Partners Growth Investments IV owned 1.39%.
Elevation Capital V held a 12.04% stake, making Tuesday’s transaction only a partial monetisation of the investors’ significantly larger combined holding.
The stake sale comes weeks after Meesho reported its first-quarter results.
The company narrowed its consolidated net loss to ₹132.8 crore from ₹289.4 crore a year earlier.
Revenue from operations rose 48% to ₹3,712.8 crore, while its EBITDA loss narrowed to ₹224.7 crore from ₹264.4 crore in the previous fiscal.
