Startup accelerator Y Combinator has successfully offloaded a significant stake in the e-commerce unicorn Meesho. The transaction, executed through secondary market block deals, amounted to approximately Rs 970 crore, marking a notable shift in the company's cap table.
Reports indicate that nearly 4.85 crore shares changed hands at a fixed price of Rs 200.01 per share. This move allows the early investor to capitalize on the startup's growth while maintaining a streamlined portfolio strategy.
The sell-off drew interest from an elite roster of global and domestic financial institutions. Notable participants acquiring the shares include Morgan Stanley, Goldman Sachs, and Citigroup, alongside major domestic players like Nippon India Mutual Fund and HDFC Life.
The high-profile participation of these institutions underscores continued investor confidence in Meesho's long-term business model despite the ongoing adjustments in the private equity landscape. For Y Combinator, the exit provides a substantial return on its early-stage involvement in the Indian e-commerce disruptor.
