Latest news with #NexusVenturesIII
Time of India
13 hours ago
- Business
- Time of India
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 reported Shares 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". Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
16 hours ago
- Business
- Business Standard
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.)
