Delhivery Trades 2 Crore Shares Worth ₹909 Crore in Pre-Open Block Deal

On April 25, 2024, Delhivery, a leading logistics and supply chain company, witnessed a significant transaction in the pre-open block window on the National Stock Exchange (NSE). A total of 2 crore shares, representing 2.7% of the company's equity, were traded at a price of ₹444 per share. The deal, worth ₹909 crore, was carried out by CPPIB, which sold a 2.8% stake in Delhivery through the open market.

The pre-open block window allows investors to place orders before the regular trading session begins, facilitating large transactions without causing significant price fluctuations. The trade of 2 crore shares at ₹444 per share indicates a substantial movement of Delhivery's stock, reflecting investor interest and confidence in the company's prospects.

Why this matters: The sizeable block deal involving Delhivery's shares highlights the growing investor appetite for logistics and supply chain companies in India. As e-commerce continues to expand and businesses increasingly rely on efficient delivery services, Delhivery's strong market position and growth potential make it an attractive investment opportunity.

In addition to the block deal, Delhivery has also made several corporate announcements and complied with regulatory requirements. The company submitted compliance certificates, replied to additional details required for a corporate announcement, and closed the trading window for the quarter and year ended March 31, 2024. These actions demonstrate Delhivery's commitment to transparency and adherence to market regulations.

The successful execution of the 2 crore share block deal, amounting to ₹909 crore, underscores Delhivery's strong market presence and investor confidence in the company's future growth prospects. As Delhivery continues to expand its operations and strengthen its position in the logistics industry, such significant transactions are likely to attract further investor interest and contribute to the company's long-term success.

Key Takeaways

• Delhivery sold 2 crore shares (2.7% stake) at ₹444/share in a ₹909 crore deal.
• The block deal was executed through the pre-open window on the NSE.
• The deal reflects investor interest in Delhivery's logistics and supply chain business.
• Delhivery complied with regulatory requirements, including closing the trading window.
• The successful block deal underscores Delhivery's market presence and growth prospects.