Meesho acquires Kirana Club for Rs 202 crore to deepen B2B commerce play

Meesho’s board has approved the acquisition of Kirana Club, a community-led B2B commerce platform for small retailers, for an aggregate cash consideration of Rs 202.08 crore.

The transaction will be carried out in three tranches and is expected to be completed on or before 31 March 2027, subject to conditions set out in the share purchase agreement.

Under the proposed deal, Meesho will acquire 100% of Singapore-based Kirana Club Pte Ltd and a direct 0.41% stake in Retail Pulse Labs Private Limited, Kirana Club’s Indian subsidiary. The remaining 99.59% stake in Retail Pulse Labs will be held indirectly through Kirana Club after the acquisition is completed.

Kirana Club will become a wholly owned subsidiary of Meesho, while Retail Pulse Labs will become a step-down subsidiary.

Founded in 2020 by Anshul Gupta and Aishwarya Jain, Kirana Club has built a digital community for kirana store owners, with more than 4.1 million registered retailers. Its mobile-first platform allows retailers to discover, compare and order FMCG and grocery products from brands.

Retail Pulse Labs operates a B2B e-commerce marketplace connecting kirana and small retailers with FMCG brands and distributors, primarily across Tier 2, Tier 3, Tier 4 and rural India. It generates revenue through commissions and advertising services.

Kirana Club will continue to operate independently within the Meesho group, with founder leadership and business continuity retained.

The proposed acquisition expands Meesho’s B2B commerce play and gives it deeper access to India’s kirana and general trade ecosystem.

India’s grocery market is estimated at about $658 billion, with kirana and general trade channels accounting for nearly 91% of the market. Meesho said millions of kiranas in Tier 3, Tier 4 and rural India continue to depend on fragmented sourcing networks, limited assortment and opaque pricing structures.

“At Meesho, we have always believed that technology can expand access and opportunity for underserved users across India. Kirana Club has built deep trust among small retailers through its asset-light and community-first approach,” said Vidit Aatrey, chairman, managing director and CEO of Meesho.

“We see significant opportunities to strengthen access, transparency and product discovery for kiranas in underserved markets across India, and also extend this to all forms of B2B retail across India,” he said.

Kirana Club’s platform also allows retailers to engage with peers through pricing insights, product discussions and scheme discovery in local languages.

Integrating Kirana Club with its logistics capabilities, supplier network and marketplace infrastructure could help expand category coverage, improve fulfilment economics and accelerate retailer acquisition across underserved markets, it said.

“Kirana Club was built on a simple belief: small retailers in Bharat deserve the same access, transparency and efficiency as modern retail,” said Anshul Gupta, co-founder and CEO of Kirana Club.

“Over the last few years, we have built deep trust with kirana retailers by combining community, local insights and commerce. Meesho understands Bharat at scale and shares our belief in serving underserved users through technology. With this partnership, we can accelerate our mission of building India’s most trusted digital commerce network for kiranas,” Gupta said.

The transaction will provide a full exit to existing investors.

For the year ended 31 March 2026, Retail Pulse Labs reported unaudited turnover of Rs 15.84 crore and a net loss of Rs 0.30 crore. Kirana Club reported unaudited turnover of SGD 45,808.25 and a net loss of SGD 739,910.99.

Meesho said the acquisition is in line with its strategic objectives and is expected to strengthen its presence and capabilities in the e-commerce ecosystem.