Elevation Capital, Peak XV Partners sell 2.3% stake in Meesho for ?1,949 crore; stock falls

Private equity firms Elevation Capital and Peak XV Partners have divested a combined 2.3 per cent stake in e-commerce marketplace Meesho for ?1,949 crore through open market transactions, according to block deal data on the NSE. Following the stake sale, Meesho’s shares fell nearly 1 per cent on Wednesday to trade at ?190.50 apiece on the National Stock Exchange (NSE). Elevation Capital’s affiliate Elevation Capital V Ltd and Peak XV Partners’ arm Peak XV Partners Investments V, together sold 10.48 crore equity shares, representing nearly a 2.3 per cent equity stake in Bengaluru-based Meesho. The transactions were executed on Tuesday…