Date: October 06, 2026
Board Meeting Outcomes
The Board of Directors of Meesho Limited, at its meeting held on October 06, 2026 (commencing at 9:00 PM IST and concluding at 9:20 PM IST), approved the following items:
1. Investment in Retail Pulse Labs Private Limited: Approved an investment of up to INR 50,00,00,000 (Indian Rupees Fifty Crores) in Retail Pulse Labs Private Limited (RPLPL). This investment is subject to completion of the first tranche of the acquisition of Kirana Club Pte. Ltd. and its subsidiary RPLPL (as intimated on June 12, 2026), upon which RPLPL will become a step-down subsidiary of the Company. The investment will be made in one or more tranches within a period of 1 (one) year from the date of closing of the first tranche of the original acquisition. The investment may be made by way of subscription to, or purchase of, equity or equity linked instruments of RPLPL, or any other permissible securities/instruments. The specific instrument(s), price and number of securities will be determined at the time of each tranche.
2. Amendment Agreement to Share Purchase Agreement: Approved the execution of an Amendment Agreement to the Share Purchase Agreement dated June 12, 2026. The Amendment Agreement incorporates certain procedural alignments and operational modifications in relation to the transaction. The overall aggregate consideration of INR 2,02,08,52,202.40 (Rupees Two Hundred Two Crores Eight Lakhs Fifty-Two Thousand Two Hundred Two and Forty Paise Only) and the scope of the proposed acquisition remain unchanged from the terms previously disclosed. As of October 06, 2026, no tranche of the acquisition has been completed.
Annexure I Disclosure Details
1. Target Company Details:
- Name: Retail Pulse Labs Private Limited (RPLPL), a subsidiary of Kirana Club, incorporated under the laws of India.
- Financials (Audited as on March 31, 2026): Turnover: INR 16.04 Crore; Net Profit/Loss: INR (1.60) Crore (loss)
2. Related Party Transaction: The proposed acquisition does not constitute a related party transaction as on the date of approval. Neither the promoter, promoter group nor group companies of the Company have any interest in the proposed investment. Upon completion of the first tranche, investments will be made on an arm's length basis.
3. Industry: Tech platform / B2B community network for kirana retailers
4. Objects and Effects of Acquisition: To support strategic growth, business expansion, and capital requirements of RPLPL, and to integrate ecosystem capabilities.
5. Government/Regulatory Approvals: No prior government or regulatory approval required.
6. Time Period for Completion: The proposed investment is expected to be made within a period of 1 (one) year, in one or more tranches, post-closing of the 1st Tranche of the original acquisition (as per intimation dated June 12, 2026).
7. Consideration: Cash consideration
10. Entity Background:
- Date of Incorporation: October 7, 2021
- Country of Presence: India
- Line of Business: Operates a B2B e-commerce marketplace platform connecting kirana/small retailers with FMCG brands and distributors, primarily across Tier 2–4 and rural India. Revenue generated through commissions and advertising services.
- Turnover History (Audited):
- 2025-26: INR 16.04 Crore
- 2024-25: INR 4.92 Crore
- 2023-24: INR 2.7 Crore
- Other Significant Information: Nil
Other Sections
No material disclosures under the following sections: KMP / Board / Auditor Changes, Dividend Declaration, Financial Results, Auditor's Report, Media Release / Investor Communication, Other Operational / Legal / Strategic Disclosures.