Meesho infuses Rs 400 crore into payments arm to support growth

Meesho has infused nearly Rs 400 crore into its wholly owned subsidiary, Meesho Payments (MPPL), to support its business operations, expand its capabilities and meet regulatory requirements. The company allotted 11.43 crore equity shares of Meesho Payments on November 2, for a total consideration of Rs 399.99 crore. The shares had a face value of Re 1 each and were issued at a premium of Rs 349 per share.