Private equity firm Carlyle Group is looking to offload its entire 2.53% stake in Delhivery, a Gurgaon-based logistics and supply chain company, through a block deal, for about Rs 710 crore ($86 million). The firm will sell about 18.4 million shares at Rs 385.50 apiece, according to various media reports.
The floor price is at a 0.8% discount to Wednesday’s close of Rs 388.60 a share. Carlyle Group holds the stake through a special purpose vehicle (SPV) CA Swift Investments, and completion of the transaction would mark its complete exit from the Indian firm.
While the dates for the block deal were not immediately available, industry sources said it could happen “soon”, if not this week. Citigroup is the sole broker for the deal, the reports said.
Earlier in November, CA Swift Investments divested a 2.5% stake in Delhivery for Rs 607 crore through the open market transaction. The SPV had offloaded 18.4 million shares, amounting to a 2.53% stake in the company.
The shares were sold at an average price of Rs 330.02 apiece, taking the transaction value to Rs 607.38 crore. As of the quarter ended September, CA Swift Investments held a 5.07% in the company, according to BSE data.