India, Aug. 24 -- US-based startup accelerator Y Combinator offloaded 4.85 Cr shares of listed ecommerce platform Meesho, around a 1% stake, via multiple block deals, as per NSE data.

Y Combinator Continuity Holdings I sold 2.3 Cr shares, while YCS16 Holdings parted with 2.1 Cr shares and YCVC Fund I sold 48.5 Lakh shares.

The shares were sold at an average weighted price of Rs.200.01 apiece, a discount of 2.5% to closing price of Rs.205.07, raking in approximately Rs.969.6 Cr in total.

The massive supply was absorbed by a mix of leading domestic mutual funds and prominent foreign institutional investors (FIIs). Nippon India Mutual Fund acquired 2 Cr shares, more than any other buyer. HDFC Standard Life Insurance Company bought 75 Lakh...