Meesho completes ₹187 crore buy of Kirana Club and RPLPL stakes
- Mergers & acquisitions
- E-commerce technology
Reviewed byRachit TripathiBlacklitt Research
Meesho (NSE: MEESHO) completed the first and second tranches of its acquisition of 92.74% of Kirana Club Pte. Ltd. and its subsidiary Retail Pulse Labs Private Limited (RPLPL) on 07 Nov 2026 for ₹186.71 crore in cash, it said in a filing on 07 Nov 2026. Kirana Club is now a subsidiary and RPLPL a step-down subsidiary.
Key highlights
- Cash consideration: ₹186.71 crore
- Stake acquired: 92.74% of Kirana Club
- Tranches completed: first and second, 07 Nov 2026
- RPLPL turnover, year to 31 Mar 2026: ₹16.04 crore
The acquisition in numbers
| Item | Detail |
|---|---|
| Companies | Kirana Club Pte. Ltd. (Singapore) and Retail Pulse Labs Private Limited (India, step-down subsidiary) |
| Stake acquired | 92.74% of the share capital of Kirana Club, directly and indirectly |
| Consideration | ₹186.71 crore, paid in cash |
| Sellers | Identified selling shareholders |
| Kirana Club turnover and net loss, year to 31 Mar 2026 | SGD 45,808 turnover; SGD (837,754) net loss |
| RPLPL turnover and net loss, year to 31 Mar 2026 | ₹16.04 crore turnover; ₹1.60 crore net loss |
Control moves to Meesho through a cash deal
Meesho has completed the first and second tranches for 92.74% of the share capital of Kirana Club, a Singapore company, for an aggregate cash consideration of ₹186.71 crore. The shares were bought from identified selling shareholders. Kirana Club was incorporated on 04 Oct 2023 and RPLPL on 07 Oct 2021, and RPLPL is an existing subsidiary of Kirana Club.
The company says the acquisition is in line with its strategic objectives and is expected to strengthen its presence and capabilities in the e-commerce ecosystem. Kirana Club runs a B2B community network and tech platform for kirana retailers, and RPLPL runs a B2B e-commerce marketplace connecting kirana and small retailers with FMCG brands and distributors, mainly across Tier 2-4 and rural India.
The targets are small and loss-making
RPLPL's turnover rose from ₹2.69 crore in 2023-24 to ₹4.92 crore in 2024-25, a rise of 82.9%, and to ₹16.04 crore in 2025-26. It made a net loss of ₹1.60 crore in the year to 31 Mar 2026.
Kirana Club's turnover was SGD 45,808 in the year to 31 Mar 2026, against a net loss of SGD 837,754. The ₹186.71 crore consideration is about 11.6 times RPLPL's turnover for that year, but the filing gives no split between the two companies.
What the acquisition means for Meesho's shareholders
Meesho has paid ₹186.71 crore in cash for control of two businesses serving kirana retailers, and both reported net losses in the year to 31 Mar 2026. Promoters Vidit Aatrey and Sanjeev Kumar sit on the boards of both companies, and the company says both are now related parties.
The filing does not state the price per share, the valuation basis, the funding source or the effect on Meesho's consolidated results, and it does not say whether any further tranche or remaining stake is to be acquired. It refers only to an earlier intimation dated 12 Jun 2026 and sets no further dated step.
Filed with BSE on . Reference: Original filing (PDF)
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