Meesho clears ₹50 crore for Retail Pulse Labs as it doubles down on the kirana B2B bet

Meesho's board has approved an investment of up to ₹50 crore in Retail Pulse Labs Private Limited (RPLPL), the kirana-focused B2B arm it is in the process of acquiring, scanx.trade reported on 6 October 2026. The decision was taken at a board meeting on 6 October 2026 and is contingent on the completion of the first tranche of the Kirana Club acquisition.

The capital will be deployed in one or more tranches within a year of the first tranche closing, through subscription to equity or equity-linked instruments. Meesho also approved an amendment to the June share-purchase agreement — procedural and operational alignments that leave the aggregate acquisition consideration of ₹202.08 crore unchanged. As of the board date, no tranche of the acquisition had been completed.

The underlying deal, announced 12 June 2026, sees Meesho acquire 100% of Singapore-incorporated Kirana Club Pte Ltd and a direct stake in RPLPL for ₹202.08 crore across three tranches, closing on or before 31 March 2027. Post-acquisition, Kirana Club becomes a wholly-owned subsidiary and RPLPL a step-down subsidiary, continuing to operate independently with founder leadership retained.

Kirana Club, founded in 2020 by Anshul Gupta and Aishwarya Jain, has built a digital community of more than 4.1 million registered retailers, letting kirana owners in Tier 2–4 towns and rural India discover, compare and order FMCG products directly from brands. RPLPL runs the B2B marketplace itself, earning through commissions and advertising. Meesho's bet is on a structural fact: kirana and general trade still account for nearly 91% of India's roughly $658 billion grocery market.