E-commerce platform Meesho Limited on Saturday, November 7, announced it has completed the first and second tranches of its acquisition of a 92.74% stake in Singapore-incorporated Kirana Club Pte. Ltd. and its Indian subsidiary, Retail Pulse Labs Private Limited , for an aggregate cash consideration of ₹186.71 crore.
Following the transaction, Kirana Club has become a direct subsidiary of Meesho, while RPLPL has become a step-down subsidiary of the listed company. The acquisition follows an initial agreement disclosed to stock exchanges on June 12, 2026, and was finalised for a total consideration of approximately ₹186.71 crore paid to identified selling shareholders.
In a regulatory filing, Meesho stated that the acquisition aligns with its strategic roadmap to strengthen its operational footprint and technological capabilities within the wider retail and e-commerce ecosystem. Both target entities operate in the B2B tech and community space for grocery retailers.
Kirana Club focuses on proprietary software and digital community tools for grocers, while RPLPL runs a business-to-business marketplace connecting kirana and small merchants with FMCG brands and distributors across Tier 2 to Tier 4 towns and rural markets, generating income via commissions and advertising.
For the financial year ended March 31, 2026, RPLPL posted an annual turnover of ₹16.04 crore—up from ₹4.92 crore in the previous fiscal and ₹2.69 crore in the year prior—alongside a net loss of ₹1.60 crore. Singapore-based Kirana Club recorded a turnover of SGD 45,808 and a net loss of SGD 8.38 lakh during the same period, compared to SGD 38,177 in the preceding year.
Meesho promoters Vidit Aatrey and Sanjeev Kumar serve as directors on the boards of both Kirana Club and RPLPL, and both target entities will now be treated as related parties for future corporate dealings. In the second quarter ended September 30, Meesho's consolidated net losses narrowed by 68% year-on-year to ₹132 crore from ₹411 crore, supported by advertising monetisation and logistics efficiencies.
During the July–September quarter, the platform's Net Merchandise Value rose 23% year-on-year to ₹12,911 crore, while marketplace revenue from operations grew 34% to ₹4,120 crore. Meesho generated ₹345 crore in quarterly free cash flow, rebounding from an outflow of ₹226 crore in the preceding quarter on seasonal working capital benefits, bringing its cash balance to ₹7,048 crore as of September 30, 2026.
Placed orders during the quarter expanded 17% year-on-year to 819 million, supported by an active base of 284 million annual transacting users and 1.13 million annual transacting sellers.