Meesho Shares Trade Flat After Massive Block Deal Worth Rs 1,885 Crore, SoftBank Stake Sale In Focus

Meesho Ltd, an e-commerce platform in India, saw its shares trade flat on Friday, November 13, after a large block deal worth Rs 1,885.2 crore was executed on the National Stock Exchange (NSE). Around 7.64 crore shares, representing 1.65% of the company's outstanding equity, changed hands at Rs 247 per share.

Meesho Share Price Today

Meesho shares traded at Rs 255.11 at around 11:01 am on Friday, up 0.39%, or approximately Re 1. The stock opened at Rs 254.05 and touched an intraday high of Rs 258.07, while the day's low stood at Rs 253.36.

Earlier in the session, Meesho shares had risen around 1% to Rs 256.25. The stock's upward movement following the large transaction suggests that the deal had not triggered immediate selling pressure. The shares have also gained approximately 10% over the previous month, adding to the market interest surrounding the company.

Meesho Block Deal: SoftBank Affiliate Reportedly Planned Stake Sale

The transaction also comes amid reports of a potential stake sale by an investor linked to SoftBank. CNBC-TV18 had earlier reported, citing sources, that SVF II Meerkat (DE) LLC, a SoftBank affiliate, was likely to sell a 1% stake in Meesho through a block deal valued at around Rs 1,174 crore.

However, the transaction value subsequently reported in the available market data was significantly higher, at Rs 1,885.2 crore. The difference raises questions about the overall composition of the completed deal, but the available information does not establish whether the reported SoftBank-linked sale accounted for the entire transaction or whether other shareholders were also involved.

The identities of all buyers and sellers were not immediately confirmed. It would therefore be premature to attribute the entire block deal to the SoftBank affiliate without further confirmation.

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