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Delhivery stake sold: Morgan Stanley, Citigroup and 6 others enter deal; buy 1.6% stake for Rs 461 crore

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Delhivery stake sold: Morgan Stanley, Citigroup and 6 others enter deal; buy 1.6% stake for Rs 461 crore

Delhivery, the logistics company, saw global and Indian investors like Morgan Stanley, Citigroup Global Markets Singapore and six other entities buy a 1.6% stake on Thursday. The shares were purchased via open market deals, totalling Rs 461 crore.According to data from the National Stock Exchange (NSE), other major buyers in the transaction included HDFC Mutual Fund, Axis Mutual Fund, Tata Mutual Fund, ASK Asset & Wealth Management, Hill Fort Capital, and Hong Kong-based Viridian Asset Management.The investors acquired more than 1.19 crore equity shares of the Gurugram-headquartered company at an average price of Rs 387 per share.The stake was sold by venture capital firm Nexus Venture Partners, which offloaded the shares via its affiliates, Nexus Opportunity Fund and Nexus Ventures III, at the same price. As of the March quarter, Nexus Ventures III held a 5.88% stake in Delhivery, PTI reportedShares of Delhivery ended the trading day slightly lower, slipping 0.54% to close at Rs 386.05 on the NSE.The development comes just weeks after Delhivery announced a major acquisition. In April, the company said it had entered into a definitive agreement to acquire a controlling stake in Ecom Express for Rs 1,400 crore in cash.The firm said that it has “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”.





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