Alpha Wave Sells Entire 1.9 PC Stake in Delhivery; Stock Falls Over 2 PC

New Delhi: Global alternative asset manager Alpha Wave Global has exited logistics company Delhivery by selling its entire 1.93 per cent stake for Rs 665 crore through open market transactions. Following the stake sale, Delhivery shares fell 2.21 per cent to Rs 470.40 apiece on the NSE and declined 2.15 per cent to Rs 470.25 on the BSE on Thursday.

According to bulk deal data available on the BSE and NSE, Alpha Wave Global, through its affiliate Alpha Wave Ventures, LP, offloaded a total of 1,44,44,800 shares in two tranches, representing a 1.93 per cent stake in Gurugram-based Delhivery. The transactions were executed on Wednesday at prices ranging between Rs 460.03 and Rs 460.36 per share, taking the combined deal value to Rs 664.74 crore. At the end of the March quarter, Alpha Wave Ventures, LP held a 1.93 per cent stake in Delhivery.

The latest transaction comes days after venture capital firm Nexus Venture Partners sold more than 43 lakh shares of Delhivery for Rs 208 crore on Tuesday.

In a separate bulk deal on the BSE, Mirae Asset Venture Investments divested nearly a 1 per cent stake in third-party logistics firm Shadowfax Technologies for Rs 120 crore through an open market transaction. Through its arm, Mirae Asset Late Stage Opportunities Fund, the firm sold 56.50 lakh shares on Wednesday, equivalent to a 0.97 per cent stake in Bengaluru-based Shadowfax Technologies.

The shares were sold at an average price of Rs 212 apiece, resulting in a transaction value of Rs 119.78 crore. Following the sale, Mirae Asset Late Stage Opportunities Fund’s holding in Shadowfax Technologies declined to 1.94 per cent from 2.91 per cent. Shadowfax Technologies shares also came under pressure, falling nearly 2 per cent to Rs 224.75 on the BSE on Thursday.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)