Y Combinator Offloads Meesho Shares Worth ₹970 Cr
US-based accelerator Y Combinator sold approximately 1% of its stake in Indian e-commerce platform Meesho through block deals, raising around ₹970 crore.
Startup accelerator Y Combinator has divested a significant portion of its investment in Indian e-commerce platform Meesho, selling shares worth approximately ₹970 crore (approximately $116 million USD). The sale involved multiple block deals on the National Stock Exchange (NSE), representing about a 1% stake in the publicly listed company.
Entities including Y Combinator Continuity Holdings I, YCS16 Holdings, and YCVC Fund I were involved in the sale, offloading a combined 48.5 million shares. The shares were transacted at an average weighted price of ₹200.01, a slight discount to Meesho's closing price on the day.
The substantial supply of shares was acquired by a consortium of domestic mutual funds and foreign institutional investors. Nippon India Mutual Fund emerged as the largest buyer, acquiring 20 million shares. Other significant investors included HDFC Standard Life Insurance Company and entities managed by Franklin Templeton, alongside international firms like Morgan Stanley and Goldman Sachs.
This marks the second major stake reduction by institutional investors in Meesho within a short period. In early August, Elevation Capital and Peak XV Partners also sold shares valued at approximately ₹974.6 crore each.
Meesho has recently reported financial improvements, reducing its net loss by 54.1% year-over-year to ₹132.8 crore in the first quarter of fiscal year 2027. Its operating revenue also saw a significant increase of 48% year-over-year, reaching ₹3,707 crore.