Business
SoftBank Sells ₹1,885 Crore Meesho Stake. Retains 5.19%.
The Take
SoftBank moved 1.65% of Meesho out the door. Fidelity picked up the tab. The Japanese investor now holds exactly 5.19% of the social commerce app. That number will not survive the next quarter. SoftBank has been pruning Indian startups like a gardener who hates hedges. 5.19% is a layover, not a destination.
The Wire
SoftBank sold a 1.65% stake in Meesho for ₹1,885 crore in a block deal, per NiftyTrader and the Economic Times. Fidelity led the buyer side. SoftBank's remaining stake in the social commerce platform dropped to 5.19%. Dealroom reported the deal at $226 million. Fortune India confirmed the stake reduction. SoftBank continues to trim its India portfolio.
The receipts
Source: NiftyTrader