Delhivery shares surge 3% after block deal involving 3.2% stake

On July 10, a block deal saw as much as 3.17 percent stake or 2.34 crore shares of logistics company Delhivery being sold, with Canada Pension Plan Investment Board (CPPIB) being the likely seller.

Following the block deal, shares of Delhivery rose. By 9:18 am, the shares were trading at Rs 394.00 on the NSE.

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Reports from CNBC-TV18 indicated that CPPIB was looking to sell its entire stake in Delhivery to earn Rs 886 crore. At the end of the March quarter of FY24, CPPIB owned a 5.96 percent stake in the logistics company. On April 25, CPPIB had already sold a 2.77 percent stake, or around two crore shares, for Rs 900 crore.