Date: October 28, 2026

Board Meeting Outcomes

The Board of Directors of Meesho Limited at its meeting held on October 28, 2026 (commenced at 06:45 p.m. IST and concluded at 7:00 p.m. IST) approved the following matters:

1. Incorporation of a Wholly Owned Subsidiary

  • Approved the incorporation of a new Wholly Owned Subsidiary (WOS) under the provisions of the Companies Act, 2013
  • The company is in the process of incorporating the subsidiary and will make a name application with the Ministry of Corporate Affairs
  • Industry: Financial services
  • Purpose: To enable the group to build in-house underwriting, control product design, directly own borrower relationships, and capture full lending margins while gaining access to institutional funding
  • This incorporation does not fall within the purview of Related Party Transaction initially, but the entity will become a related party upon incorporation

2. Further Investment in Meesho Payments Private Limited (MPPL)

  • Approved further investment of up to INR 4,00,00,00,000 (Indian Rupees Four Hundred Crores) in MPPL, a wholly owned subsidiary
  • Investment will be made by way of subscribing to the rights issue/further issue of capital, in one or more tranches
  • The number of equity shares and price will be determined as offered by MPPL and intimated in due course
  • MPPL Financials (as of March 31, 2026): Turnover: INR 1,104.65 lakhs; Net loss: INR 2,465.22 lakhs
  • MPPL is a Lending Service Provider (LSP)
  • This constitutes a related party transaction as MPPL is a wholly owned subsidiary
  • Promoters Mr. Vidit Aatrey and Mr. Sanjeev Kumar are directors on MPPL's board, and Mr. Vidit Aatrey holds one equity share as nominee of the Company
  • Purpose: To support overall business operations and growth of MPPL, enabling it to enhance capabilities, scale operations, and meet business and regulatory requirements

3. Investments in Kirana Club Pte. Ltd. and Retail Pulse Labs Private Limited

  • Approved investment of USD 650,000 (United States Dollars Six Hundred and Fifty Thousand Only) in Kirana Club Pte. Ltd. by way of subscription to ordinary shares
  • Approved investment of INR 18,73,73,721.90 (Indian Rupees Eighteen Crores Seventy-Three Lakhs Seventy-Three Thousand Seven Hundred and Twenty-One and Ninety Paise Only) in Retail Pulse Labs Private Limited (RPLPL), a subsidiary of Kirana Club Pte. Ltd.
  • Investment in RPLPL will be through subscription to or purchase of equity shares, equity-linked instruments or other permissible securities
  • These investments do not constitute related party transactions
  • No governmental or regulatory approvals required except for filings under Foreign Exchange Management Act, 1999
Kirana Club Pte. Ltd. Details:
  • Incorporated in Singapore (October 04, 2023)
  • Business: Developing proprietary software applications and operating a digital platform for grocery retailers
  • Financials (March 31, 2026): Turnover: SGD 45,808; Net loss: SGD 837,754
  • Historical turnover: 2024-25: SGD 38,177
Retail Pulse Labs Private Limited Details:
  • Incorporated in India (October 07, 2021)
  • 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
  • Financials (March 31, 2026): Turnover: INR 16.04 Crore; Net loss: INR 1.60 Crore
  • Historical turnover: 2024-25: INR 4.92 Crore; 2023-24: INR 2.69 Crore