On August 4, venture capital firms Elevation Capital and Peak XV Partners sold a combined 10.28 crore shares of ecommerce company Meesho in multiple bulk deals, generating ₹1,949 crore. Each firm sold 5.24 crore shares at an average price of ₹186 per share, slightly below Meesho's closing price of ₹191.90 on the same day, according to inc42.com.
Elevation Capital executed its sale through Elevation Capital V Ltd, while Peak XV Partners used Peak XV Partners Investments V. The shares were purchased by institutional investors including ADIA, Fidelity, Morgan Stanley, Goldman Sachs, HSBC Mutual Fund, and Kotak Mahindra Mutual Fund. The stock had been trending upwards following Meesho’s financial disclosures on July 23, which showed significant improvements in revenue and reduced losses.
The stock sale comes after Meesho reported a 54% year-on-year reduction in consolidated net loss to ₹132.8 crore in Q1 FY27, alongside a 48% increase in operating revenue to ₹3,707 crore. The company’s marketplace business trimmed EBITDA losses by 6% year-on-year to ₹139 crore, although new initiatives saw EBITDA losses more than double to ₹39 crore. Meesho processed 72.5 crore orders during the quarter with a net merchandise value of ₹11,614 crore. These financial improvements have created a favorable environment for early investors to realize returns.
Elevation Capital initially invested in Meesho in August 2017 during the company’s Series A funding round, while Peak XV Partners also made early investments. The recent share sale marks a significant liquidity event for these early backers, reflecting confidence in Meesho’s growth trajectory and market position.