SoftBank Sells Meesho Shares Worth Nearly Two Thousand Crore Rupees

SoftBank has reduced its stake in India once again by selling shares in the Bengaluru-based e-commerce platform Meesho. An affiliate of SoftBank named SVF II Meerkat (DE) LLC sold 7.64 crore shares in the company through a block deal. The total value of the shares sold in this latest transaction stands at Rs 1,885 crore, according to data from the National Stock Exchange.

Context

Block deals on stock exchanges happen when large quantities of shares are bought or sold publicly between specific investors. Big investment firms often adjust their holdings in growing startups over time to lock in profits or shift focus to other areas. Meesho is one of India's major online shopping platforms, connecting small sellers with buyers across the country.