MEESHO

Jan 30 (Reuters) - Indian e-commerce firm Meesho MEES.NS on Friday posted a wider third-quarter loss, in its first earnings report since its blockbuster market debut, as higher costs outweighed strong sales.

Its consolidated net loss widened to 4.91 billion rupees ($53.44 million) for the quarter ended December 31, compared to a loss of 374.3 million rupees a year ago.

($1 = 91.8770 Indian rupees)

(Reporting by Komal Salecha in Bengaluru)

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** Meesho MEES.NS down nearly 4% at 163 rupees after BofA starts with "neutral", PT at 190 rupees

** Brokerage does not see near-term upside after the recent rally post listing

** However, BofA adds co well-positioned to target value-focused mass market segment

** Expects strong FY26-29E net merchandise value CAGR of 26%

** Notes co's lean cost structure, asset-light model and negative working capital cycle make it one of India's most efficient consumer tech-focused businesses

** Last week, JM Financial also started coverage with a "reduce" rating; PT 170 rupees

** Since listing on Dec 10, MEES up nearly 48% from IPO issue price of 111 rupees

(Reporting by Komal Salecha)

(([email protected];))

** Meesho MEES.NS up 4.5% to 172.25 rupees

** JM Financial initiates coverage with "Reduce", PT of 170 rupees

** Says e-commerce co benefits from negative cash conversion cycle as it operates asset-light model, with platform acting as interface between sellers, buyers, logistics partners, content creators

** Sees revenue to grow at ~27% CAGR from FY25 to FY30; adjusted EBITDA to grow at 3.3% CAGR

** Adds new buyers need to be wary of significant supply post 6-month lock-in expiry

** MEES up 6% vs debut price of 162.5 rupees

(Reporting by Mridula Kumar in Bengaluru)

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** Meesho MEES.NS extends losses; down 5% to 164.48 rupees

** Shareholder lock-in of about 110 million shares, representing 2% stake in the e-commerce firm, expired on Wednesday.

** Stock has fallen 10% since then

** Meanwhile, Megha Agarwal resigns as General Manager– Business and as a senior management personnel

** Milan Partani, General Manager, user growth and content commerce, is set to assume Megha's role

** MEES jumped about 58% on Dec 10 debut with an 111-rupee issue price

** Day's losses trim stock's gains since debut to 1.2%

(Reporting by Brijesh Patel in Bengaluru)

(([email protected]; Ph no. +91 9590227221;))

** Shares of e-commerce firm Meesho MEES.NS jump 20% to 216.34 rupees after UBS initiates coverage with "buy" rating, PT of 220 rupees

** UBS expects co's focus on lower/middle income consumers in India's tiers 2 and 3 cities provide a growth runway, given that adoption accelerates among these consumers

** Expects strong growth with net merchandise value CAGR of 50% and revenue CAGR of 72% through FY30

** Points to EBITDA margin expanding from less than 1% in FY25 to 8.3% by FY30

** MEES jumped about 58% on Dec 10 debut with an 111-rupee issue price

(Reporting by Brijesh Patel in Bengaluru)

(([email protected]; Ph no. +91 9590227221;))

** Shares of Meesho MEES.NS rise 3.5% to 176 rupees on its second day of trading

** E-commerce firm invests via rights issue a 28.9 billion rupees ($321.05 million) in its unit which runs the application-based marketplace under the Meesho brand name

** MEES jumped about 58% in their debut on Wednesday

** Stock up 8.3% from yesterday's listing price

($1 = 90.0170 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

Dec 10 (Reuters) - Meesho Ltd MEES.NS:

• MEESHO LTD - HAS MADE A FURTHER INVESTMENT IN MEESHO TECHNOLOGIES

• MEESHO LTD - INVESTMENT OF 28.9 BILLION RUPEES

Source text: ID:nBSEbxtjCs

Further company coverage: MEES.NS

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