Softbank trims Meesho stake, offloads Rs 1,885 crore shares on NSE
· Business · Economic Times, Moneycontrol
SVF II Meerkat (DE) LLC, SoftBank Group's India investment vehicle, sold 7.64 crore shares of Bengaluru-based e-commerce platform Meesho at Rs 246.75 per share on Friday, reducing its holding to 5.19% from 6.84%. The block deal valued at over Rs 1,885 crore saw Societe Generale emerge as the largest buyer, purchasing 1.47 crore shares. Domestic institutional investors including Motilal Oswal, HDFC, Edelweiss, and Aditya Birla Sun Life mutual funds, along with Bajaj Life Insurance, also participated. Foreign institutional buyers included Morgan Stanley, Fidelity Investments, BNP Paribas, Goldman Sachs, and Texas Municipal Retirement System, alongside sovereign wealth funds from Singapore and Norway. LIC's Q2 portfolio adjustments and stocks in news such as Tata Power and Vodafone Idea were also highlighted in the broader market session.
Why it matters
SoftBank's continued offloading reduces its influence in Meesho while providing liquidity to domestic and foreign institutional investors, reinforcing the ongoing trend of foreign capital trimming Indian equity exposure this year.
Read the original report — Economic Times
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