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Global alternative asset manager Alpha Wave Global has exited logistics company Delhivery by selling its entire 1.93% stake through open market transactions worth nearly INR 665 crore. The sale comes days after Nexus Venture Partners reduced its holding in the company through a separate block deal. In another transaction, Mirae Asset Venture Investments sold a 0.97% stake in logistics firm Shadowfax Technologies for about INR 120 crore. Shares of both Delhivery and Shadowfax declined following the stake sales, reflecting investor reaction to the transactions.
Global alternative asset manager Alpha Wave Global has fully exited logistics company Delhivery after selling its entire 1.93% stake through open market transactions valued at INR 664.74 crore.
According to bulk deal data available on the BSE and NSE, the US-based investment firm, through its affiliate Alpha Wave Ventures LP, sold 1,44,44,800 shares of Gurugram-based Delhivery in two tranches. The transactions were carried out in the price range of INR 460.03 to INR 460.36 per share.
Alpha Wave Ventures held a 1.93% stake in Delhivery at the end of the March quarter. Following the stake sale, Delhivery's shares came under pressure, falling 2.21% to INR 470.40 apiece on the NSE and 2.15% to INR 470.25 on the BSE.
The transaction follows another major stake sale in Delhivery. Earlier this week, venture capital firm Nexus Venture Partners sold more than 43 lakh shares of the company through an open market deal worth around INR 208 crore.
In a separate bulk deal, Mirae Asset Venture Investments reduced its holding in third-party logistics firm Shadowfax Technologies by selling nearly 1% stake for INR 119.78 crore.
Through its Mirae Asset Late Stage Opportunities Fund, the investor sold 56.50 lakh shares, representing a 0.97% stake in the Bengaluru-based company. The shares were offloaded at an average price of INR 212 each.
Following the transaction, the fund's stake in Shadowfax Technologies declined to 1.94% from 2.91%.
Shares of Shadowfax Technologies also witnessed selling pressure after the deal and were trading nearly 2% lower at INR 224.75 on the BSE.
Both transactions come amid continued investor activity in India's logistics sector, where several early-stage and growth investors have been gradually monetising holdings through secondary market transactions.
Source PTI
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