USA-based private equity firm Carlyle will sell a 2.53 per cent stake in ecommerce logistics company Delhivery on Thursday. The deal is expected to fetch around Rs709.5 crore, or USD 86 million to the PE firm, according to media reports. With this block deal, Carlyle will exit its entire remaining stakes in Delhivery.
Carlyle has issued 18.4 million shares of Delhivery through a vehicle called CA Swift Investments at a price of Rs 385.5 per share, a 0.8 per cent discount to the stock's closing price of Rs 388.6 per share on the National Stock Exchange on Wednesday.
Citigroup is the block deal's broker.
Carlyle made its first investment in Delhivery in 2017 with a USD 100 million funding round, and increased its stake in 2019 with a USD 395 million round led by SoftBank.
Delhivery went public in May 2022, with shares valued at Rs 487 each, raising Rs 5,235 crore through a mix of primary and secondary stock sales.
Carlyle had sold 9.3 million shares for a total of Rs 454 crore at the time of the IPO. Prior to the IPO, Carlyle owned 7.16 per cent of the company.
Carlyle had sold a 2.5 per cent interest for 6Rs 07 crore in November 2022.