Meesho has made an additional investment in Meesho Payments (MPPL), a subsidiary of the Company, by way of subscribing 30,58,103 fully paid-up equity shares of Rs 1 each through a rights issue.
The Investment by the company is intended to support the overall business operations and growth of MPPL, enabling it to enhance its capabilities, scale its operations, and effectively meet its business and regulatory requirements. The infusion of funds is expected to facilitate expansion of MPPL’s activities, improve operational efficiency, and support the development of its offerings in line with the evolving needs of the business and the market needs.
The said investment will not cause any change in the percentage of the Equity Shareholding of the company in MPPL. The company will continue to hold 99.99% shareholding in MPPL, subsidiary of the Company.
Meesho is a multi-sided technology platform driving e-commerce in India by connecting four key stakeholders: consumers, sellers, logistics partners, and content creators. Its value-focused ecommerce marketplace serves consumers from diverse income backgrounds across India by offering 'Everyday Low Prices'.
| Company Name | CMP |
|---|---|
| Eternal | 254.30 |
| Meesho | 165.40 |
| Swiggy | 253.65 |
| FSN E-Commerce | 267.40 |
| Brainbees Solutions | 219.60 |
| View more.. | |
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