Meesho invests nearly ₹400 crore in Meesho Payments
In short
Meesho subscribed to 1,14,28,571 fully paid-up equity shares of its subsidiary Meesho Payments. The total cash paid was ₹3,99,99,99,850, with each share having a face value of Re 1 and a premium of ₹349.
This adds nearly ₹400 crore to the lending service arm. The reporting does not say why Meesho made the infusion or what the money will be used for.
What the reporting says
Meesho has subscribed to 1,14,28,571 fully paid-up equity shares of its lending service subsidiary Meesho Payments for a total cash consideration of ₹3,99,99,99,850. The shares have a face value of Re 1 each and were issued at a premium of ₹349 per share, according to a publisher-supplied summary. The immediate purpose of the infusion is not stated in the available reporting, and no further use of funds was given.
Why it matters
Meesho has put nearly ₹400 crore into its lending service subsidiary, Meesho Payments, by subscribing to 1,14,28,571 fully paid-up equity shares at a premium of ₹349 each. The reported transaction is a cash equity infusion into the subsidiary. The available reporting does not state the business reason, whether the funds will support lending growth, or any immediate operational impact beyond the capital increase.