Meesho has approved the acquisition of 100% share capital of Kirana Club Pte. Ltd. and 0.41% share capital of Retail Pulse Labs Private Limited (RPLPL) for an aggregate consideration of Rs 202.08 crore.
The company’s Board of Directors has approved the acquisition through three tranches. Upon completion, Kirana Club will become a wholly owned subsidiary of Meesho, while RPLPL will become its step-down subsidiary. Meesho has stated that it will hold 99.59% of RPLPL indirectly through Kirana Club and the remaining 0.41% directly.
The company has also approved the execution of a Share Purchase Agreement (SPA) and related transaction documents to facilitate the acquisition. The transaction has been structured as a cash deal and is expected to be completed on or before March 31, 2027, subject to the fulfilment of conditions outlined in the agreement.
According to the disclosure, Kirana Club is a Singapore-based company engaged in developing software applications and operating a digital platform for grocery retailers. Its subsidiary, Retail Pulse Labs, operates a B2B e-commerce marketplace connecting kirana stores and small retailers with FMCG brands and distributors, primarily across Tier 2, Tier 3, Tier 4 and rural markets in India.
Meesho has stated that the acquisition aligns with its strategic objectives and is expected to strengthen its presence and capabilities within the e-commerce ecosystem. The company has also confirmed that the acquisition does not constitute a related-party transaction and that no regulatory approvals are required for the deal.
