Shares of online retailer Meesho were trading 1% higher after a block deal worth Rs 1,885.2 crore took place on NSE on November 13. In the open market transaction, 7.64 crore shares or 1.65% equity stake worth Rs 1,885.2 crore changed hands. The transaction price of the block deal was Rs 247 per share.
Meesho has 463 crore shares outstanding, of which 226 crore are part of the free float. The stock has climbed 10% over the past one month.
At 9:45 am on November 13, Meesho shares were trading 1% higher at Rs 256.25 apiece.
On Thursday, CNBC-TV18 reported, citing sources, said SVF II Meerkat (DE) LLC, an affiliate of SoftBank, was likely to sell 1% stake in Meesho for Rs 1,174 crore via a block deal
UBS recently maintained its "buy" recommendation on Meesho and raised its target price to Rs 260 per share from Rs 210.