Fidelity exits 1.3% of Meesho for ₹988 cr as Jefferies, Macquarie split on value-commerce play

Post lock-in, Fidelity offloaded 5.98 cr Meesho shares at ₹165.18 for ₹988 cr. Jefferies initiates Buy with ₹225 TP on the value-commerce flywheel; Macquarie tags Underperform, flagging deflating order values and stretched valuations even as Q4 loss narrows to ₹166 cr on revenue of ₹3,531 cr (+47% YoY). Stock down 7% YTD.

— Source publishedThu, 11 Jun, 2026, 10:15 IST·First seen Thu, 11 Jun, 2026, 10:25 IST·Source Mint · Markets

What happened

Fidelity sold 1.31% in Meesho for ₹988 cr post lock-in expiry. Jefferies initiated Buy (TP ₹225) on value-commerce flywheel; Macquarie rates Underperform citing

Key facts

  • 1.3% stake
  • ₹988.15 crore
  • 5,98,16,300 shares
  • ₹165.18
  • target ₹225
  • Q4 net loss ₹166.34 cr
  • revenue ₹3531 cr +47% YoY
  • YTD -7%

Why this matters

Meesho's stretched valuation and 7% YTD drawdown amid mixed sell-side signals create a window to benchmark value-commerce M&A multiples and revisit partnership economics with Tier-2/3 supply ecosystems.