MUMBAI, July 9, 2024 – The Canada Pension Plan Investment Board (CPPIB) plans to sell its entire 3.18% stake in the logistics company Delhivery through block deals on July 10, as reported by CNBC-TV18.
Sources indicate that the block deal will be valued at approximately Rs 886 crore. Shares will be offered in the price range of Rs 378 to Rs 389 each. This pricing represents a discount of 0.7 to 3.5% compared to Delhivery’s closing price of Rs 399.65 on July 9.
At the end of the March quarter of FY24, CPPIB held a 5.96% stake in Delhivery. However, it has already sold a 2.77% stake, which equals about two crore shares, for Rs 900 crore on April 25.
Note: This is a developing story, and more updates are expected soon.
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(Source: Money Control)
News Desk
