Domestic mutual funds raised their stakes in Meesho during the first quarter of FY27, offsetting share sales by early foreign investors after the ecommerce company’s post-IPO lock-in period ended on June 9. Foreign company holdings dropped to 62.05% of diluted share capital from 65.51% at the end of March, according to Meesho’s shareholding pattern for the quarter ended June, reported inc42.com.
Following the lock-in expiry, 17 foreign companies exited Meesho’s cap table, reducing the total number of such investors to 50. Notably, Fidelity sold 5.98 crore shares through bulk deals, while Astrend India offloaded 1.06 crore shares during the quarter. Despite these exits, marquee investors including Peak XV Partners, SoftBank, Prosus, Elevation Capital, and RPS Ventures retained their holdings. Meanwhile, smaller foreign shareholders collectively sold 16.68 crore shares, inc42.com detailed.
Domestic institutional investors increased their exposure to Meesho, with mutual funds adding over 15.18 crore shares during the quarter. By the end of June, 27 mutual funds collectively held a 7.93% stake in Meesho, up from 4.72% held by 23 schemes at the end of March. This shift highlights a rebalancing of Meesho’s shareholder base as early foreign investors trim stakes and domestic investors step in, according to inc42.com.
Meesho’s post-IPO lock-in expiration made nearly 68% of its outstanding equity eligible for trading, data compiled by Nuvama Alternative & Quantitative Research showed. The next quarterly shareholding update will reveal if this trend of domestic institutional buying continues.