Meesho Invests ₹75 Cr in Wholly Owned Subsidiary MGPL

Meesho Limited has made an additional investment of ₹74,99,99,997.12 in its wholly owned subsidiary, Meesho Grocery Private Limited (MGPL), through a rights issue. This investment comprises 7,10,22,727 fully paid-up equity shares of face value Rs. 10 each, acquired at a premium of Rs. 0.56 each. The funds are intended to support MGPL's overall business operations and growth, enabling it to enhance capabilities, scale operations, and meet business and regulatory requirements. MGPL operates in the local logistics network for daily essentials and groceries. The transaction is considered a related party transaction as MGPL is a wholly owned subsidiary. Meesho's shareholding in MGPL remains at 100%.