Delhivery Stock: Morgan Stanley, Citigroup Invest Rs 461 Cr

New Delhi, Jun 26 (PTI) Morgan Stanley, Citigroup Global Markets Singapore and six other entities on Thursday bought a 1.6 per cent stake in logistics solution provider Delhivery for Rs 461 crore through open market transactions.

Besides, HDFC Mutual Fund (MF), Axis MF, Tata MF, ASK Asset & Wealth Management, Hill Fort Capital and Hong-Kong-based investment manager Viridian AM purchased shares of the Gurugram-based Delhivery, as per the block deal on the NSE.

The entities picked up over 1.19 crore equity shares or 1.6 per cent stake in the company at an average price of Rs 387, taking the combined value to Rs 461 crore.

Meanwhile, venture capital firm Nexus Venture Partners, through its affiliates Nexus Opportunity Fund and Nexus Ventures III, offloaded an equal number of shares at the same price.

In the March quarter, Nexus Ventures III owned a 5.88 per cent holding in Delhivery.

Shares of Delhivery slipped 0.54 per cent to close at Rs 386.05 per piece on the NSE.

In April, Delhivery announced the acquisition of Ecom Express for a cash consideration of about Rs 1,400 crore to scale up its business.

The company said it has "signed a definitive agreement to acquire a controlling stake in Ecom Express for a cash consideration of around Rs 1,400 crore from its shareholders".