Indian e-commerce firm Meesho has closed the first and second tranches of its acquisition to secure a 92.74% stake in Kirana Club and Retail Pulse Labs Private Limited.
The transaction involved acquiring shares from identified selling shareholders for an aggregate cash consideration of Rs1.87bn ($19.8m).
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Following the transaction, which was initially agreed in June this year, Singapore-based Kirana Club has become a Meesho subsidiary, whilst its Indian unit, Retail Pulse Labs Private Limited (RPLPL), operates as a step-down subsidiary.
Meesho promoters Vidit Aatrey and Sanjeev Kumar sit as directors on the boards of Kirana Club and RPLPL.
The transaction involved no related-party interests, did not require regulatory or governmental clearances, and is intended to advance Meesho’s strategic goals by strengthening its position and capabilities across the e-commerce sector.
Kirana Club, described as a community-focused B2B commerce platform, was set up in 2020 by Anshul Gupta and Aishwarya Jain.
The enterprise designs proprietary software applications and operates a digital platform tailored to grocery store operators.
Small shopkeepers, primarily based in rural markets and tier 2, tier 3, and tier 4 towns, use its mobile interface to discover, evaluate, and acquire fast-moving consumer goods directly from manufacturers.
Its subsidiary, RPLPL, oversees a B2B digital marketplace connecting distributors and fast-moving consumer goods brands with small retailers and kirana outlets, mostly across tier 2-4 cities and rural India.
RPLPL monetises through advertising services and commissions.
The closure of the tranches follows Meesho’s financial report late last month for Q2 FY27, ended 30 September 2026.
The company posted a net loss of Rs1.32bn, narrowing approximately 68% year-on-year (YoY) from Rs4.11bn in Q2 FY26.
As of 30 September 2026, its cash balance stood at Rs70.48bn.
Operationally, annual transacting users climbed 21% YoY to 284 million, annual buying frequency rose 7% YoY to 10.4 transactions per user, and first-time shoppers grew 16% quarter-on-quarter.
