Softbank continues to offload Indian equities, sells Meesho shares worth Rs 1,885 cr. Which other stocks did it sell this year?

Japanese investment major SoftBank Group sold another 1.65% stake in e-commerce platform Meesho for Rs 1,885 crore, continuing its streak of paring stakes in several Indian firms this year.SoftBank Group-backed investment vehicle SVF II Meerkat (DE) LLC sold 7.64 crore shares of Bengaluru-based Meesho at an average price of Rs 246.75 apiece on Friday, according to block deal data on the National Stock Exchange (NSE). This takes the total value of the deal to a little over Rs 1,885 crore.With this, SVF II Meerkat (DE) LLC’s holding in Meesho has fallen to 5.19% from 6.84%. The SoftBank entity held 31.64 crore shares, representing a 6.84% stake in Meesho, at the end of the September quarter of FY27, according to data on the company’s shareholding pattern.Also read | Softbank further trims India exposure, offloads Meesho shares worth Rs 1,885 cr Who bought Meesho shares in the block deal?While SoftBank entity offloaded Meesho shares, buyers in the deal included a clutch of domestic and foreign institutional investors, with Societe Generale (SocGen) emerging as the largest buyer. Paris-based financial services firm SocGen purchased more than 1.47 crore shares, or a 0.32% stake in Meesho, for Rs 364.65 crore. Domestic institutional buyers included mutual funds managed by Motilal Oswal, HDFC, Edelweiss and Aditya Birla Sun Life, along with Bajaj Life Insurance.Foreign buyers included Morgan Stanley, Fidelity Investments, BNP Paribas, Goldman Sachs, Ghisallo Capital Management, William Blair Investment Management and Texas Municipal Retirement System. The Singaporean government, Monetary Authority of Singapore and Norway's sovereign wealth fund Government Pension Fund Global, also participated in the transaction.SoftBank recent stake sales in Indian e-commerce firmsEarlier this month, the Japanese investor sold a 1.56% stake in eyewear retailer Lenskart Solutions for Rs 1,896 crore. Prior to that, it sold a 1.7% stake in Meesho for Rs 1,650 crore in September this year.SoftBank had also divested nearly a 2.6% stake in Lenskart for Rs 2,888 crore in August and another 3.25% stake for Rs 2,873 crore in June. In January this year, the technology investor reduced its holding in electric two-wheeler maker Ola Electric Mobility by 2.15%, continuing its broader portfolio monetisation exercise in the country.Also read | Tenbaggers on Dalal Street! These 17 stocks delivered over 1,000% returns in 5 years. What Peter Lynch’s rules say to find the next?(With inputs from PTI)Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.