Meesho has completed the first and second tranche of the acquisition of 92.74% of the share capital of Kirana Club, a company incorporated under the laws of Singapore and Retail Pulse Labs (RPLPL), a company incorporated under the laws of India and an existing subsidiary of Kirana Club (directly and indirectly).
The shares were acquired from the identified selling shareholders for an aggregate consideration of Rs 186.71 crore. Consequent to the acquisition, Kirana Club has become a subsidiary of the Company, and RPLPL has become a step-down subsidiary of the Company. The acquisition is in line with the company’s strategic objectives and is expected to strengthen its presence and capabilities in the e-commerce ecosystem.
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'.
