Delhivery share gains 1% on large block deals

The share price of Delhivery surged 1 percent on Tuesday after 1.17 crore shares or 1.62 percent equity worth Rs 388.15 crore were traded at an average price of Rs 330 apiece.

The buyers and sellers involved in the trade were, however, not known immediately.

According to shareholding data as of December 2022, several foreign direct investment (FDI) firms, including Steadview Capital, Alpine Opportunity Fund, Alpha Wave Ventures, Gamnat, Ca Swift Investments, Sudasien Investmentfonds, Internet Fund III, Canada Pension Plan Investment Board, and Svf Doorbell, held more than 1.5 percent stake in the company.

Additionally, mutual funds, including Mirae Asset Emerging Bluechip Fund and SBI Equity Hybrid Fund held 1.97 and 5.78 percent stake, respectively.

On March 17, Tiger Global, through its venture capital firm Internet Fund III, sold 0.75 percent stake in Delhivery in the open market for Rs 177 crore at an average price of Rs 321. This comes after the firm had earlier sold a 1.7 percent stake in February. It held a 4.68 percent stake in the company as of the December quarter.

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Integrated Core Strategies (Asia) Pte also sold 39,26,559 shares or 0.53 percent equity in the company. Vanguard, through its Emerging Markets Stock Index Fund and Total International Stock Index Fund, has acquired approximately 95.60 lakh shares, representing a 1.3 percent stake in the company.

On March 1, Japanese conglomerate Softbank Group offloaded a 3.8 percent stake in the company for approximately Rs 954 crore. Softbank is the single largest public stakeholder in Delhivery, holding an 18.42 percent stake as of December-end, through its entity Svf Doorbell.

Besides Delhivery, new-age tech companies such as PB Fintech and Nykaa saw bunched trades, with 15 lakh and 10.4 lakh shares changing hands.

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Delhivery’s market cap has declined over 40 percent in the last six months.

At 11.34am, the scrip was trading 0.88 percent higher on the NSE at Rs 330.80 with the benchmark Nifty up 0.36 percent at 17,687.80 points. Nykaa was trading 0.46 percent down at Rs 128.45 while PB Fintech was up 3.8 percent at Rs 612.00.