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Morgan Stanley, Citigroup, 6 others buy 1.6% stake in Delhivery for ₹461 cr
Morgan Stanley, Citigroup Global Markets Singapore and six other entities on Thursday bought a 1.6 per cent stake in logistics solution provider Delhivery for ₹461 crore through open market transactions.
Besides, HDFC Mutual Fund (MF), Axis MF, Tata MF, ASK Asset & Wealth Management, Hill Fort Capital and Hong-Kong-based investment manager Viridian AM purchased shares of the Gurugram-based Delhivery, as per the block deal on the NSE.
The entities picked up over 11.9 million equity shares or 1.6 per cent stake in the company at an average price of ₹387, taking the combined value to ₹461 crore.
Meanwhile, venture capital firm Nexus Venture Partners, through its affiliates Nexus Opportunity Fund and Nexus Ventures III, offloaded an equal number of shares at the same price.
In the March quarter, Nexus Ventures III owned a 5.88 per cent holding in Delhivery.
Shares of Delhivery slipped 0.54 per cent to close at ₹386.05 per piece on the NSE.
In April, Delhivery announced the acquisition of Ecom Express for a cash consideration of about ₹1,400 crore to scale up its business.
The company said it has "signed a definitive agreement to acquire a controlling stake in Ecom Express for a cash consideration of around ₹1,400 crore from its shareholders".
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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