Nexus Ventures Offloads ₹344 Cr Stake in Delhivery via Block Deal—Stock Reacts Mildly

Nexus Ventures III, the US-based venture capital firm, has sold 10.2 million shares (approx. 1.06% stake) in logistics major Delhivery Ltd. through a block deal on the NSE, fetching over ₹344 crore. The shares were offloaded at an average price of ₹440 apiece, as per exchange data dated August 21, 2024.

 

This move comes as part of Nexus’s portfolio rebalancing strategy. At the end of Q1 FY25, Nexus Ventures III held a 7% stake in Delhivery, which has now been trimmed. The identity of the buyers remains undisclosed, but the transaction did not significantly impact the stock, which closed at ₹429.70, down 1.94% on the NSE.

 

Meanwhile, Delhivery reported a Q1 FY25 profit of ₹54 crore, reversing a loss of ₹89 crore YoY. Revenue rose 12.6% YoY to ₹2,172 crore, with EBITDA turning positive at ₹97 crore. Express parcel volumes also grew 4% sequentially.

 

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Sources: ET Now | Inc42 | YourStory