SoftBank Group's investment arm has further reduced its exposure to Meesho Ltd, selling a 1.73% stake in the value e-commerce platform through a block deal on the National Stock Exchange (NSE). The transaction, valued at approximately Rs 1,650.4 crore, was executed on September 3, 2026, and is the latest in a series of post-IPO exits by early institutional backers of Meesho.
Details of the Transaction
The seller was SVF II Meerkat (DE) LLC, a special purpose vehicle affiliated with SoftBank Vision Fund. According to reports citing Bloomberg and stock-exchange data, the entity sold roughly 8 crore shares, equivalent to approximately 80 million shares, representing a 1.73% stake in Meesho.
The shares changed hands at an average price of Rs 206.30 apiece, bringing the total transaction value to about Rs 1,650.4 crore. Reports indicate the deal was executed in two tranches during a pre-market block window on the NSE.
The transaction appears to have been upsized during execution. Ahead of the deal, reports had indicated SoftBank's unit planned to sell around 7 crore shares at a floor price of Rs 205 each, a 3% discount to Meesho's prior closing price, for a total of up to Rs 1,435 crore, or about $161 million.
By the time the sale was completed, the size had reportedly grown to around $173 million, translating to the final figure of nearly Rs 1,650 crore.
Bank of America and JP Morgan were reported as the likely bankers managing the sale, based on pre-deal market commentary.
Buyers in the Transaction
While the identity of all buyers has not been confirmed through an official exchange filing, some reports have named institutional investors said to have participated in the block deal, including Franklin Templeton, Societe Generale, Fidelity, Manulife, HDFC Standard Life Insurance, Goldman Sachs and Motilal Oswal.
These names have not been independently verified through regulatory disclosures and should be treated as reported rather than confirmed information.
SoftBank's Remaining Holding
SVF II Meerkat DE held an 8.60% stake in Meesho as a public shareholder heading into the transaction, according to pre-deal reports.
Following the sale, reports indicate SoftBank's holding in Meesho declined to approximately 6.87%, assuming the full block of shares sold came from this single entity's position.
This figure has not been confirmed through an official shareholding disclosure at the time of publication, and investors should watch for Meesho's next shareholding pattern filing for confirmation.
Market Reaction
Meesho shares came under pressure on the day of the block deal, falling around 2% in early trade to Rs 207.05, with the company's market capitalisation slipping to roughly Rs 96,451 crore.
This followed a session on the previous day in which the stock had closed about 3% higher at Rs 211.70 on the BSE.
The stock recovered the following session, on September 4, 2026, rising 3.3% to Rs 216.67 on the NSE as institutional demand appeared to absorb the additional share supply from the block deal.
Market-cap figures reported around this period ranged between approximately Rs 96,600 crore and Rs 97,880 crore, reflecting normal day-to-day price movement rather than a single confirmed valuation.
Meesho's Recent Corporate Context
The stake sale comes against the backdrop of Meesho's relatively short history as a listed company. Meesho debuted on the stock exchanges on December 10, 2025, after an initial public offering priced in a band of Rs 105 to Rs 111 per share.
The IPO, comprising a fresh issue of shares aggregating to Rs 4,250 crore and an offer for sale of over 10.55 crore equity shares, was subscribed 79.03 times, reflecting strong investor demand at the time.
On listing day, Meesho shares opened at a premium of over 45% to the issue price and touched an intraday high representing nearly a 60% gain from the issue price.
Since listing, the company has reported improving operating metrics. For the quarter ended June 2026, Meesho's revenue from operations rose 48% year on year to Rs 3,712.8 crore, up from Rs 2,503.9 crore in the same period a year earlier.
Net loss for the quarter narrowed by 54% year on year to approximately Rs 132.8 crore, compared with a loss of Rs 289.4 crore in the year-ago period. Total expenses for the quarter rose nearly 43% year on year to Rs 3,959.2 crore.
The current block deal is not the first instance of early investors reducing their Meesho holdings since the lock-in period following the IPO began to lift.
Reports indicate that venture investors Elevation Capital and Peak XV Partners collectively sold a combined 2.3% stake in Meesho for approximately Rs 1,949 crore in the preceding month, while Y Combinator separately sold shares worth around Rs 970 crore.
SoftBank's Broader Pattern of Stake Sales in Indian Companies
SoftBank's reduction of its Meesho holding fits a broader pattern of the Japanese investor paring positions in Indian new-age technology companies following IPO lock-in expiries.
According to reports, SoftBank sold Lenskart shares worth approximately Rs 2,888 crore in August 2026 and a further Rs 2,873 crore worth of shares in June 2026. The group has also been reported to be reducing its stake in logistics company Delhivery over recent periods.
SoftBank's history of monetising stakes in listed Indian internet companies extends back several years.
In 2022, the group sold a 4.5% stake in Paytm parent One97 Communications for approximately $200 million and separately reduced its holding in PB Fintech, the parent of Policybazaar, through more than one block deal, including a sale of a 5.08% stake for around Rs 1,042.5 crore.
Shareholder and Ownership Perspective
The transaction represents a secondary sale of shares between existing and new shareholders and does not involve any fresh capital inflow to Meesho itself. As a result, the deal has no direct impact on the company's balance sheet or cash position.
From an ownership perspective, the sale reduces SoftBank's proportional voting and economic interest in Meesho, while distributing that stake across a broader base of institutional shareholders, subject to confirmation of buyer identities in official filings.
Even after the reported reduction, SoftBank's remaining stake of approximately 6.87% would continue to represent one of the more significant institutional holdings in the company, reflecting its status as an early-stage backer of the platform prior to its public listing.
Meesho is expected to disclose its updated shareholding pattern in its next periodic filing with stock exchanges, which would provide official confirmation of both the exact number of shares sold and SoftBank's resulting stake in the company.
Key Takeaway
SoftBank's SVF II Meerkat sold a reported 1.73% stake in Meesho for approximately Rs 1,650.4 crore through an NSE block deal, reducing its estimated holding from 8.6% to around 6.87%. The transaction is a secondary share sale and does not provide fresh capital to Meesho.
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