CPPIB Sells Nykaa and Delhivery Stakes Worth Rs 1,166 Crore

The Canada Pension Plan Investment Board (CPPIB) divested shares of FSN E-Commerce Ventures (Nykaa's parent company) and Delhivery for Rs 1,166 crore through open market transactions. The block deal data from BSE and NSE revealed that CPPIB offloaded a 3.2% stake in Delhivery and a 0.5% stake in FSN E-Commerce Ventures.

Canada Pension Plan Investment Board on Wednesday sold shares of Nykaa's parent company FSN E-Commerce Ventures and logistics company Delhivery for Rs 1,166 crore through open market transactions.

According to the block deal data available on the BSE, Canada Pension Plan Investment Board (CPPIB) offloaded over 2.34 crore shares, amounting to a 3.2 per cent stake in Delhivery.

In addition, CPPIB sold a total of 1,47,34,000 shares, amounting to a 0.5 per cent stake in FSN E-Commerce Ventures, as per the block deal data on the National Stock Exchange (NSE).

The shares were disposed of in the price range of Rs 174.04-388.45 apiece on the NSE and BSE, taking the combined transaction value to Rs 1,166.62 crore.

At the end of the March quarter, Canadian government's crown corporation CPPIB held a 1.47 per cent stake in fashion-to-beauty online retailer FSN E-Commerce Ventures, while it owned a 5.96 per cent stake in Delhivery.

Meanwhile, Nippon India Mutual Fund (MF), Aditya Birla Sun Life MF, ICICI Prudential Life Insurance, Copthall Mauritius Investment, Blackstone, Morgan Stanley, Ghisallo Master Fund LP, Fidelity Investments, Societe Generale, BofA Securities and HSBC were buyers of Delhivery's shares on the BSE.

Also, ICICI Prudential Mutual Fund picked up shares of FSN E-Commerce Ventures at the same price, as per NSE data.

On Wednesday, shares of FSN E-Commerce Ventures rose 0.11 per cent to settle at Rs 176 apiece on the NSE, while scrip of Delhivery declined 1.17 per cent to end at Rs 387.75 per piece on the BSE.

(With inputs from agencies.)