India, July 16 -- Domestic institutional investors increased their exposure to Meesho in the first quarter of FY27, offsetting stake sales by several early foreign backers after the ecommerce company's post-IPO lock-in period ended.

According to the ecommerce major's shareholding pattern for the quarter ended June, foreign company holdings (excluding FPIs and foreign nationals) declined to 62.05% of the diluted share capital from 65.51% at the end of March. During the quarter, 17 foreign companies exited the company's cap table, reducing the total number of such investors to 50.

The ecommerce company's post-IPO lock-in expired on June 9, making nearly 68% of its outstanding equity eligible for trading, according to data compiled by Nuva...