Delhivery share price declined over 2% in early trade on Thursday after global investment firm Alpha Wave Ventures sold its entire stake in the company through bulk deals. Delhivery shares dropped as much as 2.22% to ₹470.00 apiece on the BSE.
Alpha Wave Ventures LP sold its entire 1.93% stake in Delhivery in two tranches on June 24. The Delhivery stake sale by Alpha Wave Ventures LP comes a few days after venture capital firm Nexus Venture Partners offloaded its 1.97% stake in Delhivery.
Delhivery Stake Sale
Alpha Wave Ventures LP sold 1.44 crore Delhivery shares, representing 1.93% stake in the company in two bulk transactions on Tuesday.
Alpha Wave Ventures sold 72.22 lakh shares of Delhivery at an average price of ₹460.36 apiece on the NSE. The fund sold another set of 72.22 lakh shares on the BSE at an average price of ₹460.03 apiece, bulk deal data available with the stock exchanges showed.
With these transactions, Alpha Wave Ventures LP exited its investment in Delhivery for ₹664.7 crore through open market transactions.
On June 23, Nexus Ventures III sold 43.23 lakh Delhivery shares, representing a 0.57% stake, at ₹481 apiece for ₹207.97 crore. It had earlier in April offloaded 1.04 crore equity shares of the logistics company, or 1.39% stake, at ₹442 apiece for ₹461.32 crore.
Delhivery Share Price Performance
Delhivery share price has gained over 3% in one month, and 13% in three months. The stock has rallied 19% on a year-to-date (YTD) basis, while it has surged 47% in one year. Delhivery shares have risen 29% in three years.
At 10:10 AM, Delhivery share price was trading 1.71% lower at ₹472.40 apiece on the BSE.
