Delhivery stock price skyrockets 7% as 1.8 crore shares of the internet logistics firm exchange hands in early trade.
Delhivery stock price jumped 7.1% to Rs 416.25 apiece as 1.8 crore shares exchanged hands in a block deal as Carlyle reportedly offloaded its entire 2.53% stake in the internet logistics company. The offer price for the block deal was set at Rs 385.5, which came in at a discount of 0.6% from Wednesday’s closing price, and the sale will net Caryle around Rs 709 crore, according to Bloomerberg.
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The Carlyle group was one of the logistic companies’ pre-IPO investors. As soon as the lock-in period for the pre-IPO investors ended on 21 November, 2022, Carlyle Group trimmed its shareholding, selling a 2.5% stake. Notably, the Carlyle Group had reduced its stake in the company to 2.53% during the last quarter of the previous fiscal year. This was a significant decrease from the 5.07% stake it held during the September quarter of FY23. Tiger Global had also divested its stake in Delhivery through open market transactions earlier this year.
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Delhivery stock performance
Delhivery, the logistics company that went public in May last year, has witnessed lackluster performance in the stock market, with a decline of approximately 28%. Yesterday, Delhivery’s shares on the National Stock Exchange (NSE) concluded the trading session slightly lower at Rs 388 each, falling 0.26%. However, the stock gained nearly 17% year-to-date thus far.
Delhivery March results
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In the March quarter of the previous fiscal, Delhivery’s net loss widened to Rs 159 crore, up from the loss of Rs 120 in the corresponding quarter of FY22. The revenue from operations fell 10% to Rs 1,860 crore.
