Delhivery Stock Sees Major Investor Exodus as Alpha Wave Sells Entire Stake for Rs 664.7 Crore
Global investment firm Alpha Wave Ventures has completely exited its holding in the logistics company, Delhivery. The venture sold its entire 1.93 percent stake via open market transactions on June 24, according to stock exchange data. This move highlights a trend of early backers reducing their exposure in the listed logistics sector.Alpha Wave Completes Full Exit from Delhivery
The sale was completed by Alpha Wave Ventures LP through two tranches. The fund offloaded a total of 1.44 crore shares. The first tranche involved 72.22 lakh shares sold at Rs 460.36 apiece. The second batch, also comprising 72.22 lakh shares, was completed at Rs 460.03 per share.
In total, the transaction value for Alpha Wave's full divestment reached Rs 664.7 crore. This substantial sale confirms that the fund has now fully exited its position in Delhivery.
Nexus Ventures Continues Trimming Holdings in Logistics Player
The exit by Alpha Wave follows a recent divestiture by Nexus Venture Partners, another early investor. Nexus sold shares worth Rs 207.97 crore. These sales reflect a broader trend among foundational investors as they trim their holdings in the publicly listed Delhivery stock.
Prior to the June sale, Nexus Ventures III had previously divested a portion of its stake. This particular transaction involved selling 43.23 lakh shares, representing a 0.57 percent holding. These shares were sold at Rs 481 per share for a total value of Rs 207.97 crore.
Tracking Investor Stake Reductions in Delhivery
The reduction in stakes has been gradual but consistent across the quarter. Before the June 24th sale, Nexus Venture Partners had conducted another transaction on April 8. They sold 1.04 crore shares, corresponding to a 1.39 percent stake via the open market.
In total, these two transactions by Nexus amounted to a reduction of their stakeholder position. This cumulative divestment stands in contrast to the firm’s reported 4.48 percent holding as of March.
Delhivery Stock Closes Despite Heavy Institutional Selling
Despite the significant stake sales executed by both major investors, Delhivery shares maintained resilience on June 24. The stock concluded trading at Rs 481.05 on the NSE. This closing price represented a positive movement, marking an increase of 0.97 percent from its previous day’s close.
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