The deal was executed at an average price of Rs 321 per equity share which is 3% discount to previous day’s close. Tiger Global in February had already sold 1.7% stake in the company through the open market in February. The American investment firm held 4.68% stake in the company as of the December quarter.
According to block deal data available with the exchanges, Integrated Core Strategies (Asia) Pte has also sold 39,26,559 shares or 0.53% equity in the company.
Meanwhile Vanguard, through its Emerging Markets Stock Index Fund and Total International Stock Index Fund, has bought about 95.60 lakh shares, representing about 1.3% stake in the company
Delhivery is among the largest logistics players in India with full-stack solutions across the value chain. It is fully owned by public shareholders, wherein top mutual funds own 11.12% and the stake held under foreign direct investment is about 59.93%.
On Friday, Delhivery shares closed 2.99% lower at Rs 321.45 apiece on NSE. So far this year, the stock has fallen 3.15%.
Later, Japanese conglomerate Softbank Group had offloaded a 3.8% stake in the company for about Rs 954 crore.Softbank is the single largest public stakeholder in the logistics company, and held 18.42% stake as of December-end, through its entity Svf Doorbell (Cayman) Ltd. Prior to Delhivery’s IPO, Softbank had acquired over 22% stake in the company.
For the December quarter, Delhivery reported a net loss of Rs 196 crore compared to a loss of Rs 126.5 crore a year ago. The company posted a loss for the fifth straight quarter.
According to trendlyne data, Delhivery has an average target price of Rs 628, showing an upside of 94.97% from the current levels.