On June 22, Delhivery shares surged 7% in the early trade to Rs 416.25, the highest in six months after 1.8 crore shares, or a 2.5% stake, in the startup changing hands on the exchanges in a block deal.

The global private equity firm Carlyle plans to sell its 2.53% stake in the logistics startup at a base price of Rs 385.5 apiece for $86 billion.

The stake sale marks Carlyle’s exit from the logistics firm as it held a 2.53% stake in Delhivery through its special-purpose vehicle-CA Swift Investments, the firm’s shareholding data on BSE as on March 31 showed.

At 9:23 am, Delhivery quoted Rs 400.75 on the NSE, up 3.1% from the earlier close.

According to Bloomberg, the consensus price target for the stock is also Rs 416.32.
The positive outlook may be why the stake sale seems to have been bought into, preventing a fall in the counter.
The Carlyle Group was Delhivery’s pre-IPO investor, selling a 2.5% stake in the Gurugram-based logistics service provider in a deal worth Rs 607 crore ($74 million) in November 2022.

HDFC Flexi Cap Fund, SBI Equity Hybrid Fund, Mirae Asset Emerging Bluechip Fund, Canada Pension Plan Investment, SVF Doorbell (Cayman), Amansa Holdings and City Of New York Group Trust are among the other institutional investors holding a stake in Delhivery.