10 Jul , 2024 By : Debdeep Gupta
As much as 3.17 percent stake or 2.34 crore shares of logistics company Delhivery were sold in a block deal on July 10, with Canada Pension Plan Investment Board being the likely seller.
Shares of Delhivery rose following the block deal. At 09.17 am, shares of Delhivery were trading at Rs 394.15 on the NSE.
Grow Mudra could not immediately identify the parties involved in the transaction. However, reports from CNBC-TV18 stated that Canada Pension Plan Investment Board (CPPIB) was eyeing to sell off its entire stake in a bid to earn Rs 886 crore.
CPPIB owned a 5.96 percent stake in the logistics company at the end of the March quarter of FY24. However, since then, CPPIB has already offloaded a 2.77 percent stake in Delhivery, selling around two crore shares for Rs 900 crore on April 25.
In that block deal, firms such as Fidelity Funds, HSBC, and the Smallcap World Fund were among the buyers. The Smallcap World Fund acquired the largest portion, purchasing a 1.87 percent stake.
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