Meesho Limited Makes Additional Investment in Grocery Subsidiary via Rights Issue
Meesho Limited has announced an additional investment in its wholly owned subsidiary, Meesho Grocery Private Limited (MGPL), through a rights issue of equity shares. The transaction involves the subscription of 7,10,22,727 fully paid-up equity shares of MGPL.The investment was completed at a total cost of Rs. 74,99,99,997.12. These shares have a face value of Rs. 10/- each and were acquired at a premium of Rs. 0.56/- per share. Following this transaction, Meesho Limited maintains a 100% shareholding in MGPL, ensuring that the grocery entity remains a wholly owned subsidiary.
The infusion of funds by Meesho Limited into MGPL is intended to support the overall business operations and growth of the subsidiary. The investment aims to enhance MGPL's capabilities, scale its operations, improve operational efficiency, and assist with the expansion of activities in line with evolving market needs.
Profile and Financials of Meesho Grocery Private Limited (MGPL)
MGPL operates as a local logistics network specializing in daily essentials and groceries. Incorporated on March 18, 2024, the company has been focused on this specialized sector within India. The acquisition by Meesho Limited is categorized as a related party transaction, with the Company expressing interest through its existing shareholding.Historical financial performance data for MGPL, which services the daily essentials and groceries market, is detailed below:
| Financial Year | Turnover (Rs. in Lakhs) |
|---|---|
| 2025-26 (Audited) | 112.10 |
| 2024-25 (Audited) | 167.30 |
| 2023-24 (Audited) | Nil |
The company, which is based in India, aims to leverage this investment to enhance its market offerings and operational reach.
MEESHO Stock Price Movement
Meesho Limited closed today slightly in the green, with shares settling at ₹191.88 after gaining 0.22%. The stock traded within a day range of ₹190.55 to ₹195.9, marking modest gains for the E-Commerce giant.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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