<?xml version="1.0" encoding="UTF-8"?>
<!--REG30 V1.0 (16-10-2025)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2025-08-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2025-08-31.xsd"/><xbrli:context id="OneI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544632</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-29</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544632</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-10-29</xbrli:startDate><xbrli:endDate>2026-10-29</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="I_FinancialYear1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544632</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-29</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:TurnoverForLastThreeFinancialYearsAxis">in-capmkt:FinancialYear1Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="I_FinancialYear2"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544632</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-29</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:TurnoverForLastThreeFinancialYearsAxis">in-capmkt:FinancialYear2Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="I_FinancialYear3"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544632</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-29</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:TurnoverForLastThreeFinancialYearsAxis">in-capmkt:FinancialYear3Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="D_FinancialYear1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544632</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-10-29</xbrli:startDate><xbrli:endDate>2026-10-29</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:TurnoverForLastThreeFinancialYearsAxis">in-capmkt:FinancialYear1Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="D_FinancialYear2"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544632</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-10-29</xbrli:startDate><xbrli:endDate>2026-10-29</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:TurnoverForLastThreeFinancialYearsAxis">in-capmkt:FinancialYear2Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="D_FinancialYear3"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544632</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-10-29</xbrli:startDate><xbrli:endDate>2026-10-29</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:TurnoverForLastThreeFinancialYearsAxis">in-capmkt:FinancialYear3Member</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:unit id="INR"><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unit><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:ScripCode contextRef="OneI">544632</in-capmkt:ScripCode><in-capmkt:NameOfTheCompany contextRef="OneI">Meesho Limited 
(Formerly known as Meesho Private Limited and Fashnear Technologies Private Limited)</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="OneI">MEESHO</in-capmkt:NSESymbol><in-capmkt:MSEISymbol contextRef="OneI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="OneI">INE0VDM01015</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">New</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">Acquisition (including agreement to acquire)</in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="OneD">true</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfBoardMeeting contextRef="OneI">2026-10-28</in-capmkt:DateOfBoardMeeting><in-capmkt:EndTimeOfBoardMeeting contextRef="OneD">19:00:00</in-capmkt:EndTimeOfBoardMeeting><in-capmkt:DateOfReport contextRef="OneI">2026-10-29</in-capmkt:DateOfReport><in-capmkt:RemarksForWebsiteDissemination contextRef="OneI">The Company proposes to acquire 100% of the share capital of Kirana Club Pte Ltd. (Kirana Club) through the acquisition of 1,46,511 ordinary shares of Kirana Club and 0.41% of the share capital of Retail Pulse Labs Private Limited (“RPLPL”), an existing subsidiary of Kirana Club through the acquisition of 41 Compulsorily Convertible Preference Shares of RPLPL from the identified selling shareholders. Remaining 99.59% stake of RPLPL is being acquired by the Company indirectly via Kirana Club. &lt;BR&gt; 
 &lt;BR&gt; 
The acquisition is proposed to be completed in three tranches in accordance with the terms and conditions of the SPA and other transaction documents. &lt;BR&gt; 
 &lt;BR&gt; 
The percentage of shareholding/control acquired, and the number of shares acquired pursuant to each tranche shall be disclosed to the stock exchanges from time to time. &lt;BR&gt; 
 &lt;BR&gt; 
Post-acquisition, Kirana Club will become a wholly owned subsidiary (“WOS”) of the Company, and RPLPL will become a step-down subsidiary of the Company (with Company holding 99.59% stake indirectly through Kirana Club and the remaining 0.41% directly). &lt;BR&gt; 
 &lt;BR&gt; 
It is further clarified that the consideration disclosed in relation to the proposed transaction represents the aggregate consideration payable for the acquisition of shares of both Kirana Club and RPLPL. &lt;BR&gt; 
 &lt;BR&gt; 
Note 1: For Kirana Club and RPLPL, the turnover for FY 2025-26 is unaudited, while the turnover for FY 2024-25 and FY 2023-24 is audited. &lt;BR&gt; 
 &lt;BR&gt; 
Note 2: The turnover, net worth and PAT figures of Kirana Club have been converted from SGD to INR using an exchange rate of INR 72.7 per SGD as on March 31, 2026.</in-capmkt:RemarksForWebsiteDissemination><in-capmkt:NameOfAcquirer contextRef="OneI">Meesho Limited
(Formerly known as Meesho Private Limited and Fashnear Technologies Private Limited)</in-capmkt:NameOfAcquirer><in-capmkt:RelationshipOfAcquirerWithTheListedEntity contextRef="OneD">Listed Entity (self)</in-capmkt:RelationshipOfAcquirerWithTheListedEntity><in-capmkt:NameOfTheTargetEntity contextRef="OneI">Kirana Club Pte. Ltd. (“Kirana Club”), a company incorporated under the laws of Singapore.
</in-capmkt:NameOfTheTargetEntity><in-capmkt:TurnoverOfTargetEntity contextRef="OneD" unitRef="INR" decimals="-7">458080000000</in-capmkt:TurnoverOfTargetEntity><in-capmkt:ProfitAfterTaxOfTargetEntity contextRef="OneD" unitRef="INR" decimals="-7">-8377540000000</in-capmkt:ProfitAfterTaxOfTargetEntity><in-capmkt:NetWorthOfTargetEntity contextRef="OneD" unitRef="INR" decimals="-5">74300000</in-capmkt:NetWorthOfTargetEntity><in-capmkt:WhetherTheAcquisitionWouldFallWithinRelatedPartyTransactions contextRef="OneD">false</in-capmkt:WhetherTheAcquisitionWouldFallWithinRelatedPartyTransactions><in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesIncludingAssociateOrHoldingOrSubsidiaryOrDirectorOrKMPOrSMPAndItsRelativesHaveAnyInterestInTheEntityBeingAcquired contextRef="OneD">false</in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesIncludingAssociateOrHoldingOrSubsidiaryOrDirectorOrKMPOrSMPAndItsRelativesHaveAnyInterestInTheEntityBeingAcquired><in-capmkt:WhetherAcquisitionEventIsDoneAtArmsLength contextRef="OneD">true</in-capmkt:WhetherAcquisitionEventIsDoneAtArmsLength><in-capmkt:IndustryToWhichTheEntityBeingAcquiredBelongs contextRef="OneI">Tech platform / B2B community network for Kirana retailers</in-capmkt:IndustryToWhichTheEntityBeingAcquiredBelongs><in-capmkt:ObjectsAndImpactOfAcquisitionIncludingButNotLimitedToDisclosureOfReasonsForAcquisitionOfTargetEntityIfItsBusinessIsOutsideTheMainLineOfBusinessOfTheListedEntity contextRef="OneI">The acquisition is in line with the Company’s strategic objectives and is expected to strengthen its presence and capabilities in the e-commerce ecosystem.</in-capmkt:ObjectsAndImpactOfAcquisitionIncludingButNotLimitedToDisclosureOfReasonsForAcquisitionOfTargetEntityIfItsBusinessIsOutsideTheMainLineOfBusinessOfTheListedEntity><in-capmkt:WhetherAnyGovernmentalOrRegulatoryApprovalsRequiredForTheAcquisition contextRef="OneD">NA</in-capmkt:WhetherAnyGovernmentalOrRegulatoryApprovalsRequiredForTheAcquisition><in-capmkt:WhetherTheAcquisitionTransactionWillBeInTranches contextRef="OneD">true</in-capmkt:WhetherTheAcquisitionTransactionWillBeInTranches><in-capmkt:IndicativeTimePeriodForCompletionOfTheAcquisition contextRef="OneI">Not applicable</in-capmkt:IndicativeTimePeriodForCompletionOfTheAcquisition><in-capmkt:NatureOfConsiderationForAcquisitionEvent contextRef="OneD">Cash</in-capmkt:NatureOfConsiderationForAcquisitionEvent><in-capmkt:AmountOfCashConsiderationForAcquisitionEvent contextRef="OneD" unitRef="INR" decimals="-7">6500000000000</in-capmkt:AmountOfCashConsiderationForAcquisitionEvent><in-capmkt:DetailsOfConsiderationForAcquisitionEvent contextRef="OneI">Cash consideration</in-capmkt:DetailsOfConsiderationForAcquisitionEvent><in-capmkt:CostOfAcquisitionOrThePriceAtWhichTheSharesAreAcquired contextRef="OneD" unitRef="INR" decimals="-7">6500000000000</in-capmkt:CostOfAcquisitionOrThePriceAtWhichTheSharesAreAcquired><in-capmkt:ExistingPercentageOfShareholdingHeldByAcquirer contextRef="OneI" unitRef="pure" decimals="INF">0</in-capmkt:ExistingPercentageOfShareholdingHeldByAcquirer><in-capmkt:BriefBackgroundAboutTheEntityAcquiredInTermsOfProductsLineOfBusinessAcquired contextRef="OneI">Engaged in the business of developing proprietary software applications and operating a digital platform designed for grocery retailers.</in-capmkt:BriefBackgroundAboutTheEntityAcquiredInTermsOfProductsLineOfBusinessAcquired><in-capmkt:DateOfIncorporationForAcquisitionEvent contextRef="OneI">2023-10-04</in-capmkt:DateOfIncorporationForAcquisitionEvent><in-capmkt:DescriptionOfFinancialYear contextRef="I_FinancialYear1">2025-2026</in-capmkt:DescriptionOfFinancialYear><in-capmkt:Turnover contextRef="D_FinancialYear1" unitRef="INR" decimals="-7">458080000000</in-capmkt:Turnover><in-capmkt:DescriptionOfFinancialYear contextRef="I_FinancialYear2">2024-2025</in-capmkt:DescriptionOfFinancialYear><in-capmkt:Turnover contextRef="D_FinancialYear2" unitRef="INR" decimals="-7">381770000000</in-capmkt:Turnover><in-capmkt:DescriptionOfFinancialYear contextRef="I_FinancialYear3">2023-2024</in-capmkt:DescriptionOfFinancialYear><in-capmkt:Turnover contextRef="D_FinancialYear3" unitRef="INR" decimals="-7">0</in-capmkt:Turnover><in-capmkt:CountryInWhichTheAcquiredEntityHasPresence contextRef="OneI">Singapore</in-capmkt:CountryInWhichTheAcquiredEntityHasPresence><in-capmkt:AnyOtherBriefSignificantInformationForTheAcquisition contextRef="OneI">Kirana Club Pte. Ltd. is incorporated in Singapore and its financial statements are maintained in Singapore Dollars (SGD). All amounts in this filing that are labelled ‘Rs. in Crore’ are stated in foreign currency and have not been converted into Rupees, as follows: (i) turnover, net loss (PAT) and turnover for the last three financial years of Kirana Club are in SGD (turnover for the year ended March 31, 2026: SGD 45,808, net loss: SGD 8,37,754, turnover for 2024-25: SGD 38,177; turnover for 2023-24: Nil); and (ii) the investment in Kirana Club, being the amount of cash consideration and the cost of acquisition, is in United States Dollars (USD) and is up to USD 6,50,000, in one or more tranches.</in-capmkt:AnyOtherBriefSignificantInformationForTheAcquisition></xbrli:xbrl>
