Saturday, June 15, 2024

Delhivery block deal: Internet Fund III offloads shares worth ₹387 cr

The shares of Delhivery ended nearly a per cent on BSE as Internet Fund III Pte Ltd, the venture capital fund managed by US-based investment management company Tiger Global Management, offloaded shares in the market.

The venture capital fund, Internet Fund III Pte Ltd offloaded 11,753,735 shares at an average price of 330 via open market transactions on Tuesday, as per bulk deal data available on BSE.

Internet Fund III Pte Ltd had held 3.41 crore shares or 4.68 percent stake in Delhivery as of December 2022.

Other noticeable deals, ace investor Ashish Rameshchandra Kacholia bought 4 lakh equity shares stake in Venus Pipes & Tubes at an average price of 750 per share.

This comes at a time when, Softbank offloaded equity shares worth 954 crore through a block deal. The buyer was not ascertained.

Softbank-backed arm SVF Doorbell (Cayman) offloaded 2.8 crore equity shares at 340.8 apiece in Delhivery aggregating to 954.24 crore, as per the BSE’s block deal data. This would come around a stake sale of 3.8% in the company by Softbank’s subsidiary.

As of December 31, 2022, SVF Doorbell’s stake in Delhivery was around 13.41 crore equity shares or 18.42%. It would be the largest public shareholder in the company.

However, after the 3.8% stake sale in the block deal, SVF Doorbell’s shareholding in Delhivery has reduced to 14.58%.

Some of the major buying in Delhivery are — France-based Societe Generale purchasing 24 lakh shares for 81.79 crore; Saudi Arabian Monetary Authority bought 2,137,661 equity shares for over 72.85 crore; Invesco Asian Equity Fund bought 2,747,905 equity shares for nearly 93.65 crore; Best Investment Corporation bought 1,637,765 equity shares for nearly 55.82 crore; Invesco Pereptual Far Eastern Investment Series bought 3,494,288 equity shares for nearly 119.1 crore and others.

On Tuesday, the company’s scrip ended 0.82 per cent up at 330.80 on BSE.

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