The buyback programme, its largest to this point, could be open to each present and former staff, the agency stated. Meesho stated it had performed comparable buybacks of $1 million, $5 million and $5.5 million in February 2020, November 2020, and October 2021, respectively.
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“This initiative continues to reaffirm Meesho’s perception within the collective success of its staff and the function they play within the firm’s progress story,” the agency stated in a press release.
ET had reported on March 8 that buyers like Peak XV Companions (previously Sequoia Capital India) and Tiger World had held talks to amass a stake in Meesho by way of secondary offers.
Some angel buyers and different early backers of Meesho are prone to promote shares price round $200 million, sources had advised ET on the time. The transaction is prone to happen at a valuation of $3.5-3.9 billion, relying on the ultimate phrases, that they had stated.
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In October final 12 months, Meesho’s first institutional investor, Enterprise Freeway, bought part of its stake within the firm to WestBridge Capital.
