Elevation Capital, Peak XV Partners Sell Meesho Stock Worth ₹1,949 Cr

Venture capital firms Elevation Capital and Peak XV Partners have collectively sold shares in the Indian e-commerce major Meesho for ₹1,949 crore through multiple block deals conducted on August 4. Each firm reportedly netted ₹974.6 crore from the transactions.

Elevation Capital, using its holding entity Elevation Capital V Ltd, and Peak XV Partners, via Peak XV Partners Investments V, each divested 5.24 crore shares. The average selling price was reported at ₹186 per share, representing a discount of approximately 3% to Meesho's closing price on the day of the sale. Institutional investors including ADIA, Fidelity, Morgan Stanley, Goldman Sachs, and various Indian mutual funds were among the buyers.

The divestment follows Meesho's recent financial disclosures, which showed a significant improvement in its performance. In the first quarter of fiscal year 2027, the company reduced its consolidated net loss by 54% year-over-year, while its operating revenue grew by 48% annually. The company's stock has seen an upward trend since these results were announced.

This sale offers early backers like Elevation Capital, which first invested in Meesho in 2017, and Peak XV Partners, an investor since 2015, an opportunity to realize returns on their investments. Both firms had previously sold portions of their stakes during Meesho's initial public offering.