Y Combinator to Sell Up to 1.05% Stake in Meesho in ₹957.5 Crore Block Deal: Sources
Author: CNBC-TV18 Markets·
Key Takeaways
- •Y Combinator plans to sell up to 1.05% of its Meesho stake for ₹957.5 crore, sources told CNBC-TV18.
- •The floor price for the block deal has been fixed at ₹197.5 per share.
- •The proposed price is at a discount of up to 4% to Meesho’s previous close.
- •If completed, the sale would be another large secondary transaction involving a prominent startup investor.
- •The deal would change Meesho’s shareholder composition without involving fresh capital for the company.
Y Combinator is set to sell up to 1.05% of its stake in Meesho for ₹957.5 crore, sources told CNBC-TV18.
According to the sources, the floor price for the deal has been fixed at ₹197.5 per share, which is at a discount of up to 4% to Meesho's previous close.
The transaction, if completed, would add another large secondary sale involving a prominent startup investor and come as block deals continue to be used as a route for investors to trim holdings in listed and soon-to-be-listed companies without affecting the company’s operating business. For Meesho, such moves are closely watched because they can change the shareholder mix even when the company itself is not raising fresh capital.
