CPPIB Divests 2.8% Stake in Delhivery for Rs. 908 Crore

Canada Pension Plan Investment Board sold a 2.8% stake in Delhivery for Rs 908 crore. Capital Group, Fidelity Investments, and HSBC were among the buyers. This stake sale reduces CPPIB's holding from 5.96% to 3.16%. The shares were sold at Rs 444.30 apiece on the NSE. Delhivery shares closed slightly lower at Rs 448 on Wednesday. CPPIB had initially acquired an 8% stake in Delhivery in 2019.

PTI | New Delhi | Updated: 24-04-2024 20:25 IST | Created: 24-04-2024 20:16 IST
CPPIB Divests 2.8% Stake in Delhivery for Rs. 908 Crore
Representative Image Image Credit: ANI
  • Country:
  • India

The Canada Pension Plan Investment Board on Wednesday divested a 2.8 per cent stake in supply chain and logistics firm Delhivery for Rs 908 crore through an open market transaction.

US-based financial services company Capital Group, Fidelity Investments, HSBC, and the Master Trust Banker Japan Ltd A/C HSBC Indian Equity Mother Fund were the buyers of Delhivery shares on the NSE.

According to the block deal data available with the National Stock Exchange (NSE), Canada Pension Plan Investment Board (CPPIB) sold 2,04,50,000 shares, amounting to a 2.8 per cent stake in Delhivery.

The shares were disposed of at an average price of Rs 444.30 per piece, taking the transaction value to Rs 908.59 crore.

After the latest transaction, CPPIB's shareholding has declined to 3.16 per cent from 5.96 per cent (as of March 2024 shareholding data showed on the BSE).

On Wednesday, shares of Delhivery fell 0.09 per cent to close at Rs 448 apiece on the NSE.

In September 2019, CPPIB announced that it has bought an 8 per cent stake in Gurugram-based Delhivery for USD 115 million.

Recently, Japanese conglomerate Softbank, too, diluted its stake in Delhivery through separate block deals in March and November 2023.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback