Nexus Fund sells ₹186 crore stake in Delhivery via block deal; Morgan Stanley among key buyers

Delhivery shares are having their best month in a year; HSBC raises target but caps upside


Nexus Fund has offloaded 40 lakh shares, or a 0.53% equity stake, in logistics firm Delhivery Ltd through a block deal worth ₹186 crore.

The transaction was executed at an average price of ₹465 per share.

As per a report, Morgan Stanley emerged as the largest buyer in the deal, picking up 12 lakh shares worth ₹56 crore. Edelweiss Mutual Fund purchased 10.75 lakh shares for ₹50 crore.

Other participants included Goldman Sachs, Nippon India Mutual Fund and Viridian Asia Opportunities Fund, which bought around 6 lakh shares each in the transaction.

The Logistics major had reported a strong set of numbers for the December quarter, with net profit rising 58.4% year-on-year to ₹39.6 crore, aided by healthy volume growth and operating leverage.

Also Read: Delhivery ‘bull’ says headwinds are behind, sees up to 43% upside

Its revenue increased 18% to ₹2,804 crore compared with ₹2,378 crore in the year-ago period. EBITDA more than doubled to ₹208.5 crore from ₹103 crore a year earlier, while operating margin improved to 7.4% from 4.3%

Shares of Delhivery ended at ₹456.6 on the NSE, down ₹8.7 or 1.87% on April 15.

Also Read: Delhivery shares are having their best month in a year; HSBC raises target but caps upside





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