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Silicon Valley-based startup accelerator Y Combinator has sold a 1.05 percent stake in e-commerce marketplace Meesho for nearly INR 970 crore through block deals. Y Combinator Continuity Holdings I LLC sold 2.30 crore shares, YCS16 Holdings LLC offloaded 2.06 crore shares, while YCVC Fund I LP sold 48.5 lakh shares.
Institutional investors including Nippon India Mutual Fund, HDFC Standard Life Insurance, Edelweiss Mutual Fund, Franklin Templeton, Morgan Stanley, Goldman Sachs and Citigroup were among the buyers.
The sale comes less than a week after Y Combinator sold a 1.2 percent stake in Groww parent Billionbrains Garage Ventures for INR 1,435 crore. At the end of the June quarter, promoter entities held a 16 percent stake in Meesho, while public shareholders and institutions held the remaining 84 percent.
Meesho reported a 48 percent year-on-year increase in revenue to INR 3,712.8 crore in the first quarter of FY27. Its net loss narrowed to INR 132.8 crore from INR 289.4 crore a year earlier. Its net merchandise value rose 34 percent to INR 11,614 crore.
Y Combinator’s latest transaction adds to its returns from Meesho, with the accelerator having previously sold shares in the company.
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