New Delhi, June 12 -- Listed e-commerce company Meesho has approved the acquisition of the Singapore-incorporated Kirana Club Pte. Ltd. and its Indian subsidiary Retail Pulse Labs Pvt. Ltd. for Rs 202 crore ($21.2 mn), marking a strategic move to deepen its presence in the kirana and small retailer ecosystem.

The Bengaluru-based company will acquire 100% of the share capital of Kirana Club and an additional 0.41% direct stake in Retail Pulse Labs for an aggregate consideration of Rs 202.08 crore (around $21.2 million), according to a stock exchange filing on Thursday. The remaining 99.59% stake of Retail Pulse Labs is being acquired by Meesho indirectly via Kirana Club.

The company will fund the acquisition entirely with cash consideration.

The acquisition will be completed in three tranches by March 31, 2027. Upon completion, Kirana Club will become a wholly owned subsidiary of Meesho, while Retail Pulse Labs will become a step-down subsidiary.

Meesho said the acquisition aligns with its strategic objectives and is expected to strengthen its presence and capabilities across the broader e-commerce ecosystem.

Kirana Club, incorporated in 2023, develops proprietary software applications and operates a digital platform for grocery retailers, according to Meesho's exchange filing.

Founded in 2021, Retail Pulse Labs operates a B2B commerce marketplace that connects kirana stores and small retailers with FMCG brands and distributors, primarily across Tier-II, Tier-III and rural markets. The platform generates revenue through commissions and advertising services.

The company has witnessed rapid growth over the past two years. Retail Pulse Labs reported revenue of Rs 15.84 crore in the financial year through March 2026, up more than threefold from Rs 4.92 crore in FY25 and Rs 2.7 crore in FY24. But, the company posted a net loss of Rs 30 lakh in FY26.

Kirana Club, which serves as the Singapore-based holding entity, reported revenue of SGD 45,808 in FY26 and a net loss of SGD 739,911.

Published by HT Digital Content Services with permission from VC Circle.