RPS Ventures sells 0.9% stake in Meesho for Rs 899.7 crore

RPS Ventures, a fund set up by former SoftBank Vision Fund managing partner Kabir Misra, has sold 3.86 crore shares in ecommerce marketplace Meesho for Rs 899.7 crore through multiple block deals on September 23, according to BSE data. The shares sold represent a 0.9% stake in Meesho.

As of June 30, RPS Ventures held a 1.2% stake in Meesho. Norges Bank, Fidelity, Goldman Sachs, Morgan Stanley and Citigroup were among the buyers of the shares. The shares changed hands at Rs 233 apiece. Meesho’s stock ended 1.6% lower at Rs 236.35 on the BSE.

RPS Ventures, which has also backed companies such as Delhivery and Acko, first invested in Meesho in 2018 as part of a $50-million funding round that valued the company at $200-250 million.


The block trade by RPS Ventures follows a similar move by Meesho’s early investors Peak XV Partners and Elevation Capital in August, when they offloaded a combined 2.3% stake in the company through block deals worth around Rs 1,900 crore.