SoftBank Sells 1.65% Stake in Meesho for ₹1,885 Crore via NSE Block Deal
Japanese technology investment conglomerate SoftBank Group has further trimmed its exposure to India's listed consumer internet space, selling a 1.65% stake in e-commerce platform Meesho for ₹1,885.17 crore through open-market block deals on the National Stock Exchange (NSE).
The divestment was executed by SoftBank's investment vehicle, SVF II Meerkat (DE) LLC, which offloaded 7.64 crore equity shares at an average price of ₹246.75 apiece. Following the transaction, SoftBank's holding in the Bengaluru-headquartered marketplace dropped to approximately 5.19% from 6.84% recorded at the end of September 2026.
Despite the large block supply, Meesho's stock demonstrated resilience, closing 1.53% higher at ₹257.99 on the NSE, giving the company a market valuation of nearly ₹1.19 lakh crore.
Broad Institutional Absorption
The block transaction witnessed strong buying demand from a syndicate of 16 global institutional funds, sovereign entities, and domestic asset managers:
- Fidelity Investments: Emerged as the single largest buyer in the transaction, picking up 2.32 crore equity shares (a 0.5% stake) for ₹573.07 crore across eight of its schemes, expanding its existing 1.17% footprint in the company.
- Societe Generale: Acquired over 1.47 crore shares (a 0.32% stake) valued at roughly ₹364.65 crore.
- Global and Sovereign Investors: Foreign participants included Morgan Stanley Asia Singapore, Goldman Sachs, BNP Paribas, Ghisallo Capital Management, Texas Municipal Retirement System, and William Blair Investment Management, alongside sovereign capital from the Government of Singapore, the Monetary Authority of Singapore, and Norway's Government Pension Fund Global (Norges Bank).
- Domestic Institutions: Indian asset managers absorbing the supply included mutual funds managed by Motilal Oswal, HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, and Edelweiss, as well as Bajaj Allianz Life Insurance.
SoftBank's Ongoing India Monetisation Wave
The transaction is part of a deliberate, sustained harvest by Masayoshi Son-led SoftBank across its mature Indian portfolio. Earlier this month, the fund pared a 1.56% stake in eyewear retailer Lenskart Solutions for ₹1,896 crore, following previous multi-thousand-crore block sales in Lenskart in June and August. In September 2026, SoftBank offloaded another 1.7% stake in Meesho for ₹1,650 crore. Earlier in the year, it also reduced its holding in electric two-wheeler manufacturer Ola Electric Mobility.
Operational Context and Index Inclusion
Market sentiment around Meesho has been supported by improving operational metrics and key index inclusions. In the second quarter of FY27, Meesho reported a 34.4% year-on-year rise in consolidated revenue from operations to ₹4,131.58 crore, while its consolidated net loss narrowed sharply by 67.8% to ₹132.44 crore from ₹411 crore in the year-ago period.
Additionally, the stock received a liquidity catalyst after being added to the MSCI India Standard Index in the November 2026 rebalancing, which analysts estimate will drive passive institutional inflows of around $307 million. The successful placement of SoftBank's block reaffirms that high-growth new-age Indian tech firms continue to find solid balance-sheet backing from global and domestic institutions when exits occur at market-clearing prices.
