Meesho Ltd will acquire kirana-focused business-to-business (B2B) commerce platform Kirana Club for about ₹202 crore, according to a stock exchange filing on Friday. The e-commerce company has been looking to expand beyond consumer shopping and strengthen its presence among millions of small retailers across India.
The acquisition, which could be Meesho’s first ever, will be completed in three tranches. It involves the purchase of 100% of Singapore-incorporated Kirana Club Pte. Ltd. and an additional 0.41% stake in its Indian subsidiary Retail Pulse Labs Private Ltd. (RPLPL) from existing shareholders.
Meesho’s board approved the transaction at a meeting on 12 June. The deal is expected to close on or before 31 March 2027, subject to conditions set out in the agreement.
Once completed, Kirana Club will become a wholly owned subsidiary of Meesho, while RPLPL will become its step-down subsidiary. Kirana Club will continue to operate independently following the transaction, the company said. Meesho will indirectly hold 99.59% of RPLPL through Kirana Club and directly own the remaining 0.41%.
The transaction will provide a full exit to Kirana Club’s existing investors, while the company’s founders are expected to continue leading the business after the acquisition.
Kirana Club operates a digital platform for grocery retailers, while RPLPL runs a B2B e-commerce marketplace that connects kirana stores and small retailers with fast-moving consumer goods (FMCG) brands and distributors, primarily across tier-2, tier-3, and tier-4 towns and rural markets. It generates revenue through commissions and advertising services.
According to disclosures by Meesho, RPLPL reported unaudited turnover of ₹15.84 crore in FY26, with a net loss of ₹0.30 crore. Kirana Club reported unaudited turnover of SGD 45,808.25 and a net loss of SGD 739,910.99 for the same period.
Founded in 2020 by Anshul Gupta and Aishwarya Jain, Kirana Club has built a network of more than 4.1 million registered retailers through its mobile-first platform, which helps kirana stores to source FMCG and grocery products directly from brands. The company operates a marketplace model focused on small retailers in non-metro markets.
Big piece of the pie
The acquisition gives Meesho a presence in the kirana-focused B2B commerce segment at a time when small retailers continue to account for the majority of India’s grocery trade. India’s grocery market is valued at about $658 billion, with kirana and general trade channels representing roughly 91% of the market, according to industry estimates.
“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,” Vidit Aatrey, managing director and CEO of Meesho, said in a statement.
The acquisition comes after Meesho reported FY26 consolidated revenue of ₹12,626 crore, up about 35% from the previous year. Net loss narrowed to about ₹1,358 crore from ₹3,942 crore in FY25. Meesho’s shares closed 0.8% lower at ₹167 on Friday.
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