Y Combinator sold 4.9 Cr shares through three entities at an average weighted price of ₹200.01 apiece, a discount of 2.5%
The sale comes soon after Meesho reported its Q1 FY27 results. It slashed its consolidated net loss by 54.1% YoY to ₹132.8 Cr while its topline grew to ₹3,707 Cr
Nippon India Mutual Fund, HDFC Standard Life Insurance Company, Franklin Templeton, Edelweiss Mutual Fund, and Societe Generale were among the buyers lining up for Y Combinator’s shares
US-based startup accelerator Y Combinator offloaded 4.85 Cr shares of listed ecommerce platform Meeshoaround a 1% stake, via multiple block deals, as per NSE data.
Y Combinator Continuity Holdings I sold 2.3 Cr shares, while YCS16 Holdings parted with 2.1 Cr shares and YCVC Fund I sold 48.5 Lakh shares.
The shares were sold at an average weighted price of ₹200.01 apiece, a discount of 2.5% to closing price of ₹205.07, raking in approximately ₹969.6 Cr in total.
The massive supply was absorbed by a mix of leading domestic mutual funds and prominent foreign institutional investors (FIIs). Nippon India Mutual Fund acquired 2 Cr shares, more than any other buyer. HDFC Standard Life Insurance Company bought 75 Lakh shares while two entities of global investor Franklin Templeton bought a combined 40 Lakh shares.
Edelweiss Mutual Fund bought 34.7 Lakh shares, Societe Generale picked up 23.75 Lakh shares, and multinational asset firm Millennium Management’s entity Integrated Core Strategies (Asia) acquired 17.5 Lakh shares.
Morgan Stanley Asia Singapore, BNP Paribas Financial Markets, Canara Robeco Mutual Fund, HSBC Mutual Fund, and Goldman Sachs were among the other buyers. Notably, Kotak Securities also bought a single share.
This is the second major instance when institutional investors have pared stake in the ecommerce major. In the first week of August, Elevation Capital and Peak XV Partners sold shares worth ₹974.6 Cr each.
On the financial front, Meesho reduced its consolidated net loss by 54.1% YoY to ₹132.8 Cr in Q1 FY27. At the same time, its operating revenue surged 48% YoY to ₹3,707 Cr.
On an adjusted EBITDA basis as well, the company remained in the red in Q1 FY27. Its adjusted EBITDA loss slightly improved YoY to ₹178.2 Cr from ₹230.1 Cr in Q1 FY26, but widened marginally from ₹167.5 Cr in Q4 FY26.
In terms of operating metrics, the net merchandise value of goods sold on its platform rose 34% YoY to ₹11,614 Cr in the quarter, while its number of annual transacting users also grew 29% to 27.4 Cr.
Shares of Meesho ended the day 0.30% lower at ₹205.07 on the NSE.