Delhivery’s Major Stake Sale: Top Investors Acquire 1.6% Stake
Delhivery, a leading logistics company, recently made headlines. A group of prominent investors purchased a 1.6% stake in the firm. This significant deal took place on Thursday and was valued at Rs 461 crore.
Who Purchased the Stake?
The investors involved in this deal include:
- Morgan Stanley
- Citigroup Global Markets Singapore
- HDFC Mutual Fund
- Axis Mutual Fund
- Tata Mutual Fund
- ASK Asset & Wealth Management
- Hill Fort Capital
- Viridian Asset Management (Hong Kong-based)
Understanding the Deal
The investors acquired over 1.19 crore equity shares of Delhivery. The average price per share was Rs 387. The stake was sold by Nexus Venture Partners through their affiliates, Nexus Opportunity Fund and Nexus Ventures III, at the same price.
As of the March quarter, Nexus Ventures III held a substantial 5.88% stake in Delhivery.
Market Response
Delhivery’s shares saw a slight dip following the deal. They ended the trading day 0.54% lower, closing at Rs 386.05 on the NSE.
Delhivery’s Recent Strategic Move
This investment comes shortly after Delhivery’s major acquisition announcement. In April, the company revealed plans to acquire a controlling stake in Ecom Express. The deal, valued at Rs 1,400 crore in cash, marks a significant step in Delhivery’s growth strategy.
The company stated, “We have signed a definitive agreement to acquire a controlling stake in Ecom Express for a cash consideration of around Rs 1,400 crore from its shareholders.”
