E-commerce firm Meesho on Friday announced it will acquire community-led B2B platform Kirana Club for about ₹202 crore in an all-cash deal.
According to a regulatory filing, Meesho’s board approved the acquisition of a 100 per cent stake in Singapore-incorporated Kirana Club Pte Ltd and its Indian subsidiary, Retail Pulse Labs Pvt Ltd (RPLPL).
The acquisition will be completed in three tranches on or before March 31, 2027, the company said.
“The Board of Directors of Meesho Ltd…has considered and approved the acquisition of 100 per cent of the share capital of Kirana Club Pte Ltd, a company incorporated under the laws of Singapore, and 0.41 per cent of the share capital of Retail Pulse Labs Pvt Ltd, an existing subsidiary of Kirana Club incorporated under the laws of India…for an aggregate consideration amounting to ₹2,02,08,52,202.40, in three tranches,” it said.
The acquisition is expected to strengthen Meesho’s presence and capabilities in the e-commerce ecosystem, the company informed the stock exchanges.
Following the acquisition, Kirana Club will operate independently as a wholly-owned subsidiary within the Meesho group.
“Kirana Club has built deep trust among small retailers through its asset-light and community-first approach. We see significant opportunities to strengthen access, transparency and product discovery for kiranas in underserved markets across India and also extend this to all forms of B2B retail across India,” said Vidit Aatrey, Chairman, Managing Director and Chief Executive Officer of Meesho.
Founded in 2020, Kirana Club operates a mobile-first platform that allows small retailers, primarily in Tier 2 to Tier 4 cities and rural areas, to discover, compare and order fast-moving consumer goods (FMCG) directly from brands. The platform currently has over 4.1 million registered retailers.