RPS Ventures, a fund set up by former SoftBank Vision Fund managing partner Kabir Misra, on Wednesday sold 38.6 million shares in ecommerce marketplace Meesho for Rs 899.7 crore through multiple block deals, according to BSE data.
Norges Bank, Fidelity, Goldman Sachs, Morgan Stanley and Citigroup were among the buyers of the shares, which represent a 0.9% stake in Meesho.
The shares changed hands at Rs 233 apiece. Meesho’s stock ended 1.6% lower at Rs 236.35 on the BSE.
As of June 30, RPS Ventures held a 1.2% stake in Meesho. The fund, 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.
In a research note dated September 22, brokerage firm UBS raised its price target for Meesho to Rs 260 from Rs 210 while retaining its Buy rating, citing higher growth and improving margins.
The brokerage raised its FY29-31 net merchandise value (NMV) estimates for Meesho by 7-18% and Ebitda estimates by 20-40%. It expects Meesho’s seller base, buyers and product selection to support growth.
UBS also expects Meesho’s logistics costs to decline further, allowing the company to rebuild its logistics margin to 2.5% over the next two to three quarters. Advertising revenue, which crossed 3% of sales in the first quarter of FY27, is another potential driver of margin expansion. UBS expects contribution margin to rise from 4.6% in the first quarter to about 5% by the end of FY27.
In the April-June period , Meesho narrowed its loss as marketplace revenue rose sharply and operating metrics improved, helped by higher user engagement, better delivery conversion and stronger platform monetisation. The company had reported a loss of Rs 133 crore for the quarter ended June 30, 2026, compared with a loss of Rs 289 crore in the same quarter last year.
Meesho’s NMV for the June quarter had risen 34% year-on-year to Rs 11,614 crore.
