India, Aug. 4 -- VC firms Elevation Capital and Peak XV Partners cumulatively sold 10.28 Cr shares of ecommerce major Meesho via multiple bulk/block deals on August 4, netting Rs.974.6 Cr apiece.

Elevation Capital, via holding entity Elevation Capital V Ltd, and Peak XV Partners, via Peak XV Partners Investments V, both sold 5.24 Cr shares at an average selling price of Rs.186.

The shares that flooded the market were lapped up by ADIA, Fidelity, Morgan Stanley, Goldman Sachs, HSBC Mutual Fund, Kotak Mahindra Mutual Fund, among others.

The deals materialised at a 3% discount from Meesho's closing price today of Rs.191.90. The stock has largely been on an upward trend since the company's financial disclosures on July 23.

In Q1 FY27, Mee...