Meesho completes majority stake acquisition in Kirana Club and Retail Pulse Labs

CNBC TV18 reported that Meesho completed the acquisition of a 92.74% stake in Kirana Club Pte. Ltd. and Retail Pulse Labs Private Limited for ₹186.71 crore. With the deal done, both companies become subsidiaries of Meesho. The outlet said the purchase is meant to strengthen Meesho's business-to-business (B2B) retail ecosystem, meaning the side of its business that sells to shopkeepers and other retailers rather than directly to shoppers. A stake of 92.74% means Meesho now holds almost all of both companies, not the whole of them. A subsidiary is a company controlled by another, larger company, which usually reports its numbers as part of its own. ₹186.71 crore is the total amount Meesho paid for that stake. The report did not give a date for the completion or say who sold the stake.

AI summary of what CNBC TV18 reported. AI can make mistakes. Read the full story on CNBC TV18