Meesho slides on senior management exit; stock hits 5% lower circuit again

Meesho shares hit a 5 per cent lower circuit for the second straight session on Thursday after its general manager for business resigned

Shares of Meesho Ltd. hit a 5 per cent lower circuit on Thursday after the company said its general manager for business resigned, the first senior management exit since the e-commerce firm's public listing.

 

The stock slid as much as 5 per cent intraday to ₹164.4 per share, extending the 5 per cent decline seen on Wednesday. It later pared losses to trade 3.6 per cent lower at ₹166.7 apiece, compared with a 0.30 per cent fall in the Nifty 50 as of 9:31 am.

 

Meesho share price fell for the third straight session and currently trade at 1.7 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 8 per cent this year, compared to a 0.27 per cent decline in the benchmark Nifty 50. Meesho has a total market capitalisation of ₹74,579.49 crore. 

 

Meesho senior management exit

In an exchange filing on Wednesday, Meesho said that Megha Agarwal, general manager for business at Meesho, has resigned from the firm. Agarwal was one of six senior executives reporting to founder and chief executive Vidit Aatrey, along with the heads of finance, product, human resources, user growth and fulfilment.

 

Agarwal joined Meesho in 2019 and was elevated to lead growth in 2022. She was appointed general manager in 2023 after the exit of Utkrishta Kumar, taking charge of the company's category management function. 

 

Milan Partani, who was the head of user growth, will now have an expanded role as general manager for the commerce platform, the statement added.   CATCH STOCK MARKET LIVE UPDATES TODAY

Meesho one-month lock-in ends

On Wednesday, Meesho shares hit a 5 per cent lower circuit after the expiry of its one-month shareholder lock-in period. Around 110 million shares, or 2 per cent of the company's outstanding equity, became eligible for trading once the lock-in expires

 

Softbank-backed e-commerce player Meesho made a debut on Dalal Street on December 10, 2025. The company's shares were listed at ₹162 per share, a premium of ₹51 or 46 per cent on the NSE. Post-listing, the stock touched a high of ₹172.8, up 6.5 per cent from the listing price. 

 

On the BSE as well, Meesho shares opened at ₹161.20, a premium of 45 per cent. Post-listing, the stock rose around 7 per cent from the listing price to ₹172.5.