Fidelity International has disclosed a substantial acquisition in Meesho Limited, increasing its shareholding to 6.30% of the company's total voting capital. The disclosure was filed under Regulation 29 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Acquisition Details

The regulatory filing reveals that Fidelity International now holds a significant position in the e-commerce platform. The acquisition details are as follows:

Mode of Acquisition

According to the regulatory document, the shares were acquired through "receiving the shares of the issuer at the time of IPO - Initial Public Offering." This indicates that Fidelity International participated in Meesho Limited's public offering process, securing a substantial stake in the company during its market debut.

Regulatory Compliance

The filing was submitted by FIL Technology (Dalian) Limited on behalf of FMR LLC and FIL Limited, demonstrating compliance with Indian securities regulations. The disclosure was made to BSE Limited as required under the substantial acquisition norms.

Investment Significance

The acquisition represents a notable institutional investment in Meesho Limited, with Fidelity International securing a 6.30% stake through the IPO process. The shareholding consists entirely of equity shares carrying voting rights, providing the international investment firm with a significant position in the company's ownership structure.

The regulatory filing confirms that the total diluted share capital of Meesho Limited stands at 4,513,131,000 shares, providing context for the scale of Fidelity's investment in the Indian e-commerce platform.

Meesho Limited has confirmed a further substantial investment of ₹28,900 crores in its wholly-owned subsidiary Meesho Technologies Private Limited (MTPL). This major capital infusion represents a strategic move to strengthen the company's technology infrastructure and marketplace capabilities following its recent public listing.

Investment Structure and Details

The investment is being executed through a rights issue mechanism, involving significant equity participation in the subsidiary. This transaction forms part of the systematic utilization of proceeds from Meesho's Initial Public Offering, as outlined in the company's prospectus.

About Meesho Technologies Private Limited

MTPL serves as the core technology platform powering the Meesho marketplace ecosystem. The subsidiary was incorporated on March 22, 2024, and has quickly established itself as a crucial component of India's e-commerce landscape, connecting sellers with consumers across multiple product categories.

Business Operations:

• Fashion and accessories marketplace
• Electronics and consumer goods
• Home and kitchen products
• Health and fitness equipment
• Office and business supplies

Financial Performance Overview

The subsidiary has demonstrated robust financial performance since its incorporation, justifying the continued investment commitment from the parent company.

Strategic Implications

This further investment underscores Meesho's commitment to expanding its technology capabilities and marketplace reach. The substantial capital allocation to MTPL reflects the company's strategy to maintain complete control over its core technology operations while scaling its platform infrastructure.

Key Investment Benefits:

• Enhanced technology infrastructure development
• Strengthened marketplace capabilities
• Continued 100% ownership and control
• Strategic utilization of IPO proceeds

The transaction maintains Meesho's complete ownership structure in MTPL while providing the subsidiary with enhanced financial resources to support its growth trajectory in India's competitive e-commerce market.