Meesho buys stake from Kirana Club shareholders
Key Highlights
Meesho has acquired a 92.74% stake in Kirana Club and Retail Pulse Labs for ₹186.71 crore to expand its e-commerce ecosystem capabilities.
Meesho has finalized the acquisition of a majority stake in Kirana Club and its subsidiary Pulse Labs. The company purchased 92.74% of the share capital from identified selling shareholders for an aggregate consideration of ₹186.71 crore. This transaction establishes Kirana Club as a subsidiary of the firm and Retail Pulse Labs as a step-down subsidiary.
The acquisition involved the completion of the first and second tranches of the share purchase agreement. Kirana Club is incorporated under the laws of Singapore, while Retail Pulse Labs operates as an Indian entity. The company stated that this move aligns with its strategic objectives to enhance its capabilities and presence within the e-commerce ecosystem.
Meesho operates a multi-sided technology platform that connects consumers, sellers, logistics partners, and content creators. The marketplace focuses on providing low prices to consumers across various income levels in India. The company did not provide further details regarding the integration process or specific operational changes following the completion of this transaction.
Based on company and agency reports. For information only; not investment advice.