Tech
Meesho founders, early investors Elevation, Peak XV see $1 billion gains as ecommerce startup lists
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Meesho’s early backers Elevation Capital and Peak XV Partners, as well as its founders Vidit Aatrey and Sanjeev Kumar, are sitting on gains of almost a billion dollars after the ecommerce company made its stock market debut on Wednesday.
Aatrey and Kumar together hold a 16.2% stake in the company, according to its IPO prospectus. Based on the current trading price, their combined holding is valued at more than Rs 12,190 crore. Both sold 1.6 crore shares each, realising about Rs 178 crore from the offer for sale component of the issue.
Elevation…
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