RPS Ventures Sells Meesho Stake Valued at Approx. €900 Million

Venture capital firm RPS Ventures has divested nearly 39 million shares of e-commerce company Meesho, netting approximately €899.7 million. The sale occurred through a bulk deal where RPS's holding entity, RPS WOS II LLC, offloaded 38.6 million equity shares, representing about 0.8% of Meesho’s total equity.

The shares were traded at €233 each, a 1.4% discount to the stock's closing price on the day of the transaction. Major buyers included the Government of Singapore, Mirae Asset Mutual Fund, and Societe Generale, along with other institutional investors like BNP Paribas Arbitrage and Fidelity.

RPS Ventures, which backed Meesho in 2018, has now reduced its stake by over 71%. Prior to this sale, the firm held approximately 5.4 million shares, or 1.1% of the e-commerce platform.

This divestment follows a trend of significant investors reducing their stakes in Meesho. Notably, Y Combinator, Elevation Capital, and Peak XV Partners have also sold substantial holdings in recent months. Meesho's stock performance has recently improved, buoyed by strong financial results showing reduced net losses and increased operating revenue in the latest quarter.