Strategic Stake Shuffle: Delhivery's Acquisition of Ecom Express

Morgan Stanley and others acquired a 1.6% stake in logistics provider Delhivery for Rs 461 crore. Concurrently, Nexus Venture Partners sold shares, reducing its holding. Delhivery's shares dipped slightly. The company recently acquired Ecom Express for about Rs 1,400 crore, boosting its business expansion plans.

Morgan Stanley, Citigroup Global Markets Singapore, and several other entities made a significant move on Thursday by purchasing a 1.6% stake in Delhivery, a logistics solution provider, for Rs 461 crore through open market transactions.

Additionally, prominent financial institutions like HDFC Mutual Fund, Axis MF, and others bought shares of the Gurugram-based company, according to information from the NSE block deal. The acquisition involved over 1.19 crore equity shares, averaging Rs 387 each, culminating in a total value of Rs 461 crore.

At the same time, Nexus Venture Partners divested an equal number of shares, slightly diminishing its 5.88% holding. Notably, Delhivery's shares experienced a slight drop of 0.54%, closing at Rs 386.05 on the NSE. In a strategic expansion move, Delhivery recently announced purchasing Ecom Express for approximately Rs 1,400 crore.

(With inputs from agencies.)