RPS Ventures sold nearly 3.9 crore shares of ecommerce company Meesho in a bulk deal valued at ₹899.7 crore, according to BSE bulk deal data. The shares, representing about 0.8% of Meesho’s total equity, were offloaded by RPS WOS II LLC at ₹233 per share, a 1.4% discount to the stock’s closing price on the day of the transaction.
The shares were acquired by several institutional investors including the Government of Singapore, which bought 1.3 crore shares, Mirae Asset Mutual Fund with 77.2 lakh shares, and Societe Generale with 35.5 lakh shares. Other buyers included BNP Paribas Arbitrage, Fidelity, Citigroup, Norway’s pension fund, Ghisallo Capital Management, Morgan Stanley, and WhiteOak Capital Mutual Fund. RPS Ventures held around 5.4 crore shares or a 1.1% stake in Meesho at the end of the June quarter and reduced its holding by over 71% through this transaction.
RPS Ventures, a late-stage venture capital firm co-founded by former SoftBank executive Kabir Misra, first invested in Meesho during its $50 million Series C round in 2018. Unlike other investors who sold shares during Meesho’s IPO offer for sale, RPS had retained its stake until this bulk deal. The sale follows a trend of major investors offloading Meesho shares recently, including Y Combinator, which sold 4.85 crore shares worth ₹969.6 crore about a month ago.
At the end of the June quarter, RPS Ventures’ stake in Meesho was 1.1%, and after this bulk deal, it has reduced its holding significantly. The transaction highlights ongoing investor activity in Meesho’s shares following its public market debut nearly a year ago.