Japanese investment major SoftBank Group has sold a 1.65% stake in e-commerce company Meesho for approximately ₹1,885 crore, continuing its strategy of reducing holdings in Indian technology businesses.
As per a report by PTI, block deal data from the National Stock Exchange (NSE) showed that SoftBank affiliate SVF II Meerkat (DE) LLC sold 7.64 crore shares in the Bengaluru-based company on Friday.
The transaction was executed at an average price of ₹246.75 per share, taking the total consideration to ₹1,885.17 crore.
Following the sale, the affiliate's shareholding in Meesho declined from 6.84% to 5.19%.
The block deal attracted several domestic and international institutional investors.
Paris-based financial services company Societe Generale (SocGen) emerged as the largest buyer, acquiring more than 1.47 crore shares, equivalent to a 0.32% stake, for ₹364.65 crore.
Indian institutional participants included mutual funds managed by Motilal Oswal, HDFC, Edelweiss and Aditya Birla Sun Life, along with Bajaj Life Insurance.
Foreign investors participating in the transaction included Morgan Stanley, Fidelity Investments, BNP Paribas, Goldman Sachs, Ghisallo Capital Management, William Blair Investment Management and Texas Municipal Retirement System.
The Singaporean government, Monetary Authority of Singapore and Norway's Government Pension Fund Global also participated.
Despite the sizeable stake sale, Meesho shares gained 1.53% to close at ₹257.99 on the NSE.
The latest transaction follows several divestments by SoftBank in its Indian portfolio. Earlier in November, the investor sold a 1.56% stake in eyewear retailer Lenskart Solutions for ₹1,896 crore.
In September, SoftBank had offloaded another 1.7% stake in Meesho for ₹1,650 crore. The Japanese investor also reduced its Lenskart holding through two transactions, selling nearly 2.6% for ₹2,888 crore in August and another 3.25% for ₹2,873 crore in June.
In January, SoftBank pared its holding in electric two-wheeler manufacturer Ola Electric Mobility by 2.15%.
The transactions reflect the investor's continuing efforts to monetise holdings across India's e-commerce and consumer technology sectors.
