Meesho Limited has successfully completed the acquisition of 92.74% of the share capital of Kirana Club Pte. Ltd., Singapore, and its Indian subsidiary, Retail Pulse Labs Private Limited (RPLPL). The transaction, valued at ₹186,71,12,524.48, signifies Kirana Club becoming a subsidiary and RPLPL a step-down subsidiary of Meesho. This move aligns with Meesho’s strategic objectives to strengthen its presence in the e-commerce ecosystem.
Meesho Finalizes Acquisition of Kirana Club and RPLPL
Meesho Limited has announced the completion of the first and second tranches of its acquisition of Kirana Club Pte. Ltd. (“Kirana Club”), a Singapore-based company, and its Indian subsidiary, Retail Pulse Labs Private Limited (“RPLPL”). The acquisition grants Meesho a controlling stake of 92.74% in both entities.
Transaction Details and Consideration
The total aggregate consideration for this acquisition amounts to ₹1,86,71,12,524.48 (Rupees One Hundred Eighty-Six Crore Seventy-One Lakh Twelve Thousand Five Hundred Twenty-Four and Forty-Eight Paise only). This substantial investment marks a strategic step for Meesho in expanding its market reach and capabilities.
Impact on Corporate Structure
Following the acquisition, Kirana Club has officially become a subsidiary of Meesho Limited. Consequently, RPLPL, an existing subsidiary of Kirana Club, is now a step-down subsidiary of Meesho. The company has stated that both entities are now considered related parties.
Strategic Rationale for Acquisition
The acquisition is in line with Meesho’s broader strategic objectives, aiming to enhance its presence and capabilities within the burgeoning e-commerce ecosystem. The target entities, Kirana Club and RPLPL, are involved in developing software applications for grocery retailers and operating a B2B e-commerce marketplace for kirana and small retailers, respectively.
Brief Background of Acquired Entities
Kirana Club, incorporated in October 2023, is engaged in developing proprietary software applications and operating a digital platform for grocery retailers. RPLPL, incorporated in October 2021, operates a B2B e-commerce marketplace connecting kirana retailers with FMCG brands and distributors, primarily serving Tier 2-4 and rural India through commissions and advertising services.
Turnover Information
For the financial year ending March 31, 2026, Kirana Club reported a turnover of SGD 45,808 and a net profit of SGD (837,754). RPLPL recorded a turnover of INR 16.04 Crore and a net loss of INR (1.60) Crore.
The previous financial year turnovers were: Kirana Club (2024-25: SGD 38,177; 2023-24: Nil) and RPLPL (2024-25: INR 4.92 Crore; 2023-24: INR 2.69 Crore).
Source: BSE
