SoftBank Group-backed investment vehicle SVF II Meerkat (DE) LLC was reportedly planning to sell approximately 1% of its stake in e-commerce platform Meesho through a block deal worth around ₹1,174 crore. The proposed transaction, reported on November 12, was expected to involve shares priced at a floor price of ₹246.23 apiece, representing a discount of approximately 3.1% to Meesho’s previous closing price of ₹254.15.
The proposed sale comes as Meesho reports stronger financial performance, expanding user numbers and growing activity across its marketplace. However, the transaction also represents another partial exit by an early institutional investor. Importantly, subsequent exchange data showed that a larger block deal worth ₹1,885.2 crore took place on November 13, involving 7.64 crore shares. The identities of the buyers and sellers in that completed transaction had not been officially disclosed in the available reports.
SoftBank-Backed SVF II Meerkat Plans to Sell Meesho Shares
SVF II Meerkat (DE) LLC, an investment vehicle associated with SoftBank Vision Fund II, was identified as the likely seller in the proposed ₹1,174 crore transaction.
According to reports citing market sources, the investor planned to offload approximately 4.78 crore shares, equivalent to around 1% of Meesho’s outstanding equity.
The proposed floor price was fixed at ₹246.23 per share, approximately 3.1% below Meesho’s November 12 closing price.
| Transaction detail | Reported figure |
|---|---|
| Seller identified in initial reports | SVF II Meerkat (DE) LLC |
| Associated investor | SoftBank Vision Fund II |
| Proposed stake sale | Around 1% |
| Proposed deal value | ₹1,174 crore |
| Floor price | ₹246.23 per share |
| Discount to previous close | Approximately 3.1% |
| Shares proposed for sale | Around 4.78 crore |
At the end of September 2026, SVF II Meerkat held 31.63 crore Meesho shares, representing a 6.84% stake in the company.
If the proposed sale of approximately 1% of the company had been completed as reported, the investor’s holding would have declined to around 5.8%, assuming no other shareholding changes.
NDTV Profit also reported that the selling shareholder would be subject to a 30-day lock-up period following the transaction.
Larger Meesho Block Deal Worth ₹1,885 Crore Takes Place
The November 13 trading session brought a further development.
According to exchange data reported by Moneycontrol, approximately 7.64 crore Meesho shares, representing 1.65% of the company’s outstanding equity, changed hands through a block deal.
The transaction was executed at an average price of ₹247 per share, taking its total value to approximately ₹1,885.2 crore.
| Completed block deal detail | Figure |
|---|---|
| Date | November 13, 2026 |
| Shares exchanged | 7.64 crore |
| Equity represented | 1.65% |
| Average transaction price | ₹247 |
| Total transaction value | ₹1,885.2 crore |
| Buyers and sellers | Not officially identified in available reports |
The completed transaction was larger than the approximately ₹1,174 crore sale initially reported.
However, the two developments should not automatically be treated as the same transaction. While SVF II Meerkat was identified as the likely seller in the initial reports, the identities of the parties involved in the larger November 13 block deal had not been officially confirmed in the reports available at the time.
Meesho shares were trading around ₹256.25 on November 13 following the transaction, according to Moneycontrol.
SoftBank Has Been Gradually Reducing Its Meesho Stake
The proposed sale follows earlier share disposals by SoftBank-linked investors.
In September 2026, SVF II Meerkat reportedly sold approximately 8 crore Meesho shares through two block deals at an average price of ₹206.30 apiece. The combined transaction was valued at approximately ₹1,650.40 crore.
Following that transaction, SoftBank’s reported holding in Meesho declined from around 8.6% to approximately 6.87%.
The latest proposed sale would represent another reduction in its exposure to the e-commerce company.
Such transactions are part of the investment lifecycle for venture capital and private equity investors. Funds that invest in companies during earlier growth stages may gradually sell shares after a company becomes publicly listed, allowing them to realise returns and return capital to investors.
A stake sale does not necessarily indicate that an investor has lost confidence in a company’s business. The reasons for individual transactions can include portfolio management, fund timelines, liquidity requirements and profit realisation.
Meesho’s Q2 FY27 Results Show Revenue Growth and Lower Losses
The proposed stake sale comes shortly after Meesho reported its September-quarter financial results.
The company recorded consolidated revenue from operations of ₹4,131.58 crore in Q2 FY27, representing a 34.4% increase from ₹3,073.67 crore in the corresponding quarter last year.
Its consolidated net loss narrowed to ₹132.45 crore from ₹411.36 crore in Q2 FY26, a reduction of approximately 67.8%.
| Financial metric | Q2 FY27 | Q2 FY26 | Year-on-year change |
|---|---|---|---|
| Revenue from operations | ₹4,131.58 crore | ₹3,073.67 crore | +34.4% |
| Consolidated net loss | ₹132.45 crore | ₹411.36 crore | Loss narrowed 67.8% |
| Total expenses | ₹4,382.27 crore | ₹3,540.44 crore | +23.8% |
| EBITDA loss | ₹229 crore | — | Higher than previous quarter’s ₹225 crore |
On a sequential basis, revenue increased 11.3% from ₹3,712.81 crore in Q1 FY27. The net loss remained broadly unchanged compared with the ₹132.84 crore reported in the June quarter.
The results indicate that revenue growth has outpaced the increase in total expenses. However, the company continues to report losses, and its EBITDA loss increased slightly compared with the preceding quarter.
User Base Expands to 284 Million
Meesho’s operating performance also showed growth across its customer and seller network.
The company reported 284 million annual transacting users in Q2 FY27, an increase of 21% year over year. Annual purchase frequency rose 7% to 10.4 purchases per user.
Other operating indicators included:
- Annual transacting users: 284 million, up 21% year over year.
- Annual transacting sellers: 1.13 million, up 60% year over year.
- First-time buyers: Increased 16% sequentially.
- Placed orders: 819 million, up 17% year over year.
- Net merchandise value: ₹12,911 crore, up 23% year over year.
The growth suggests that Meesho is expanding both sides of its marketplace by attracting additional buyers and sellers.
The company has also been investing in content-led shopping, logistics efficiency and brand-focused offerings to improve customer engagement.
Its content commerce business has been another growth area, with short-form videos and creator recommendations helping customers discover products.
Kirana Club Acquisition Adds to Meesho’s Expansion Strategy
Meesho has also completed the first and second tranches of its acquisition of a 92.74% stake in Singapore-based Kirana Club Pte. Ltd. and its Indian step-down subsidiary, Retail Pulse Labs Private Limited.
The transaction was completed for an aggregate consideration of ₹186.71 crore.
Following the acquisition, Kirana Club became a subsidiary of Meesho, while Retail Pulse Labs became its step-down subsidiary.
The acquisition adds another component to Meesho’s efforts to expand its business ecosystem and strengthen its understanding of India’s retail and merchant networks.
The transaction was separate from the reported SoftBank-linked stake sale.
Meesho Shares Gain Attention Ahead of MSCI Index Inclusion
Meesho’s stock has also attracted attention following its inclusion in the MSCI India Index.
The index rebalancing is scheduled for November 30, 2026. Market participants have been assessing the potential impact of the inclusion on institutional demand and trading activity.
Nuvama Alternative and Quantitative Research estimated that the inclusion could generate potential inflows of approximately $307 million, although actual flows will depend on index-linked investment activity and portfolio adjustments.
Meesho shares touched a post-listing high of ₹259 on November 12, according to reports.
The combination of stronger quarterly results, index inclusion and large institutional share transactions has kept the stock in focus.
The Bigger Picture
The proposed SoftBank-linked stake sale highlights how institutional investors can gradually reduce holdings in companies after their public listings. For Meesho, the transaction comes during a period of expanding user numbers, higher revenue and a significant reduction in quarterly losses.
However, the larger block deal on November 13 shows why investors should distinguish between an anticipated transaction and a confirmed exchange disclosure. The identity of the seller in the completed ₹1,885 crore transaction was not officially established in the available reports. Meesho’s longer-term performance will depend on sustaining marketplace growth, improving operating margins and converting scale into consistent profitability.
Looking Ahead
Investors will be watching further disclosures to establish whether SVF II Meerkat completed the proposed sale and how its remaining stake in Meesho changes. The November 13 block transaction, which involved 1.65% of the company’s equity, is also likely to remain a point of interest as details of the participants become available.
For Meesho, the next challenge is to maintain its growth momentum while improving profitability. Its expanding customer base, seller network and upcoming MSCI India Index inclusion could influence investor interest, but the company’s ability to manage expenses and generate sustainable earnings will remain central to its market performance.
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Meta Description: SoftBank-backed SVF II Meerkat reportedly planned to sell 1% of Meesho for ₹1,174 crore as the e-commerce company reported higher revenue and lower losses.
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