Pune: Meesho has completed the acquisition of a 92.74% stake in Kirana Club, a Singapore-incorporated technology platform for grocery retailers, for an aggregate cash consideration of approximately ₹186.71 crore.
The acquisition also gives Meesho indirect ownership of Kirana Club’s Indian subsidiary, Retail Pulse Labs Private Limited (RPLPL), according to a regulatory filing dated November 7, 2026.
The e-commerce company completed the first and second tranches of the Kirana Club acquisition on November 7, purchasing shares from identified selling shareholders.
The transaction gives Meesho a direct 92.74% stake in Kirana Club, while its Indian subsidiary RPLPL has become an indirect step-down subsidiary of Meesho through Kirana Club.
The latest disclosure confirms the completion of both acquisition tranches. Meesho had initially informed the stock exchanges about the proposed transaction on June 12, 2026.
However, the regulatory filing does not specify whether Meesho intends to acquire the remaining shareholding in Kirana Club.
Technology Platform for Grocery Retailers
Kirana Club, incorporated in Singapore in October 2023, develops proprietary software applications and operates a digital platform designed for grocery retailers.
The platform focuses on serving the needs of kirana retailers through technology-driven solutions.
For the financial year ended March 31, 2026, Kirana Club reported a turnover of SGD 45,808 and a net loss of SGD 837,754.
Through the acquisition of Kirana Club, Meesho has also gained indirect ownership of its Indian subsidiary, Retail Pulse Labs Private Limited, which operates in the business-to-business (B2B) e-commerce segment.
RPLPL Revenue More Than Triples to Rs 16.04 Crore in FY26
Retail Pulse Labs Private Limited (RPLPL), incorporated in October 2021, operates a B2B e-commerce marketplace that connects kirana stores and small retailers with fast-moving consumer goods (FMCG) brands and distributors.
The company primarily operates across Tier 2, Tier 3 and Tier 4 cities, along with rural markets in India. Its revenue model includes commissions and advertising services.
RPLPL recorded a significant increase in turnover during FY26. Its revenue more than tripled to ₹16.04 crore in the financial year 2025-26, compared with ₹4.92 crore in FY25 and ₹2.69 crore in FY24.
Despite the increase in turnover, RPLPL reported a net loss of ₹1.60 crore for FY26.
The acquisition of Kirana Club and its Indian subsidiary brings the B2B retail marketplace and technology platform under Meesho’s subsidiary structure.
Meesho Promoters Vidit Aatrey and Sanjeev Kumar on Boards of Acquired Entities
In its regulatory filing, Meesho clarified that the Kirana Club acquisition does not constitute a related party transaction.
The company also disclosed that its promoters, Vidit Aatrey and Sanjeev Kumar, are directors on the boards of both Kirana Club and Retail Pulse Labs Private Limited.
Apart from these board positions, Meesho stated that no other promoter, promoter group member or group company has any interest in the acquired entities.
Following the completion of the acquisition, both Kirana Club and RPLPL have become subsidiaries within the Meesho corporate structure.
The company stated that any future transactions with these entities will comply with the related party transaction provisions under the Companies Act, 2013, and the SEBI Listing Regulations.
Meesho Says Acquisition Aligns With Strategic Objectives
Meesho said the acquisition of Kirana Club is in line with its strategic objectives and is expected to strengthen its presence and capabilities in the e-commerce ecosystem.
The transaction brings the technology platform for grocery retailers and RPLPL’s B2B e-commerce marketplace under Meesho’s ownership structure.
The company further clarified that no governmental or regulatory approvals were required to complete the acquisition.
With the first and second tranches now completed, Meesho holds a 92.74% direct stake in Kirana Club, while its Indian subsidiary, Retail Pulse Labs Private Limited, operates as an indirect step-down subsidiary.
