Fidelity Investments slashes valuations in Meesho | Retail News India
23 October 2024
American multinational financial services corporation Fidelity Investments has slashed the valuations in Indian e-commerce unicorn Meesho by almost 10 per cent, further reducing the valuation of the company to US $ 4.4 billion.
Overall slowdown in the global economy, the rising cost of living, and the ongoing war in Ukraine are main factors for the decline in valuation. This decline in valuations is a sign that investors are becoming more cautious about investing in risky assets.
The investment firm owns around 33,000 shares of Meesho through the Fidelity Central Investment Portfolio Fund.
American multinational financial services corporation Fidelity Investments has slashed the valuations in Indian e-commerce unicorn Meesho by almost 10 per cent, further reducing the valuation of the company to US $ 4.4 billion. Overall slowdown in the global economy, the rising cost of living, and the ongoing war in Ukraine are main factors for the decline in valuation. This decline in valuations is a sign that investors are becoming more cautious about investing in risky assets. The investment firm owns around 33,000 shares of Meesho through the Fidelity Central Investment Portfolio Fund.
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