Block Deal in Delhivery: Rs 26.99 Crore Worth of Shares Traded at Rs 420.95 Each on NSE

Block Deal on Wednesday 

Shares of Delhivery were trading near the 20-day moving average (20-DMA) after a significant block deal worth Rs 26.99 crore was observed on Wednesday. The transaction involved 6,41,094 shares traded at Rs 420.95 per share. However, the identities of the buyer and seller remain undisclosed.

Recent Block Deal Activity: A Closer Look

In July, a large trade took place involving Delhivery shares in the pre-market block window. According to exchange data, 2.34 crore shares, equivalent to 3.17% of the company’s total equity, changed hands at an average price of Rs 388.45 per share. The transaction value amounted to Rs 910.2 crore, with a total of 235.51 lakh shares exchanged on the BSE, resulting in a high turnover of Rs 914.96 crore.

CPPIB Exits Delhivery: A Strategic Sell-off

The Canada Pension Plan Investment Board (CPPIB) has fully exited its stake in logistics unicorn Delhivery by offloading its remaining 2.34 crore shares, or approximately 3.18% of the company, through multiple block deals valued at Rs 910.2 crore on July 10.

Before Delhivery’s IPO in May 2022, CPPIB was a significant shareholder, holding around 4.38 crore shares, equivalent to a 13.45% stake in the company. Post-IPO, CPPIB’s stake was reduced to just over 6%, maintaining 4.38 crore shares. As per the BSE data for the March 2024 quarter, CPPIB still held this number of shares, amounting to a 5.96% stake.

Major Buyers: Who Acquired the Shares?

The shares sold by CPPIB attracted a diverse group of buyers, including several institutional investors and mutual funds. Key buyers included HSBC, ICICI Prudential, BofA Securities, Societe Generale, Aditya Birla Sun Life Mutual Fund, Nippon India Mutual Fund, and FMRC Fidelity Emerging Markets Fund. This broad interest from high-profile investors underscores the continued confidence in Delhivery’s growth potential despite CPPIB’s exit.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.