Meesho shares slip over 2% amid ₹1,650 crore block deals; SoftBank likely seller

Shares of e-commerce company Meesho declined by as much as 2% on Thursday as heavy trading activity in the block deal window triggered a sharp spike in volumes.

As many as 8 crore shares, or 1.73% of the company’s equity, reportedly changed hands across four block trades, with the transactions valued at around ₹1,650 crore. The shares changed hands at an average price of ₹206 apiece.

Driven by heavy volumes, Meesho shares tumbled by as much as 2.2% to ₹207.05 on the BSE. At the time of reporting, the e-commerce stock was trading marginally lower at ₹211, paring its early losses, with a market capitalisation of ₹97,677 crore.

The first two block deals involved around 3.53 crore Meesho shares, while another two transactions accounted for approximately 4.47 crore shares. The identities of the buyers and sellers were not immediately available.

According to media reports, a SoftBank Group entity was looking to offload around 7 crore Meesho shares, representing nearly 1.5% stake, at a floor price of ₹205 apiece. In a fresh development on Thursday, the share sale by the SoftBank entity was reportedly upsized to $173 million, or around ₹1,634 crore, from the earlier planned $151 million, or approximately ₹1,435 crore.

At the end of the June quarter, promoter entities held a 16.41% stake in Meesho, while public shareholders owned the remaining 83.59%, according to stock exchange data.

Investor selling gathers pace

The latest block deals come barely a week after Y Combinator sold around 4.85 crore Meesho shares, or a 1.05% stake, for approximately ₹970 crore through a block deal. The shares were sold at an average price of ₹200.01 apiece.

Earlier in June, Fidelity Investments sold 5.98 crore shares, or around 1.31% of Meesho’s equity, through a block deal valued at nearly ₹988 crore.

Selling pressure has intensified since the expiry of Meesho’s six-month post-listing shareholder lock-in period on June 10. The stock has declined more than 8% over the past month, with nearly 68% of the company’s outstanding equity becoming eligible for trading after the lock-in expired, according to Nuvama Alternative & Quantitative Research. While the expiry does not necessarily trigger immediate selling, it allows early investors to monetise their holdings.

In the June quarter (Q1 FY27), Meesho narrowed its consolidated net loss by 54% year-on-year to ₹132.8 crore from ₹289.4 crore a year earlier. The loss also improved sequentially from ₹166.3 crore reported in the March quarter, according to the company’s exchange filing.

Revenue from operations rose 48% year-on-year to ₹3,712.8 crore, compared with ₹2,503.9 crore in the corresponding quarter last year. Revenue also increased from ₹3,531.2 crore in Q4 FY26.

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