Meesho Boosts MPPL with Rs 100 Crore Investment
E-commerce firm Meesho's board approves a Rs 100 crore investment in subsidiary Meesho Payments Private Limited to enhance its business operations. The investment aims to improve MPPL's operational efficiency and offerings, aligning with market needs, with completion expected by July 30, 2026.
In a bold move to strengthen its lending arm, Meesho, a prominent e-commerce company, announced that its board has greenlit an investment of up to Rs 100 crore in its subsidiary, Meesho Payments Private Limited (MPPL). The funds will be channeled through a rights issue.
Meesho, which already owns a 99.99% stake in MPPL, plans to complete this financial injection by July 30, 2026. This infusion is set to bolster MPPL's operations, enhance its efficiency, and expand its offerings to meet market demands.
Established in April 2019, MPPL serves as a Lending Service Provider, collaborating with financial institutions to provide credit on the Meesho platform. In the fiscal year ending March 31, 2026, MPPL posted a turnover of Rs 11.04 crore alongside a net loss of Rs 24.71 crore.
(With inputs from agencies.)
- READ MORE ON:
- Meesho
- investment
- MPPL
- e-commerce
- funding
- rights issue
- expansion
- operations
- subsidiary
- market
ALSO READ
Adityanath meets Governor Anandiben Patel; UP cabinet expansion likely on Sunday
Adityanath meets Governor Anandiben Patel; UP cabinet expansion likely on Sunday
Yogi Adityanath meets Governor Anandiben Patel; UP cabinet expansion likely on Sunday
Cabinet expansion buzz in UP as Adityanath meets Governor Anandiben Patel
Union Minister Piyush Goyal discusses local talent investment and manufacturing expansion with LVMH
Google News