Strategic Stake Shuffle: Delhivery's Acquisition of Ecom Express

Morgan Stanley, Citigroup Global Markets Singapore, and several other entities made a significant move on Thursday by purchasing a 1.6% stake in Delhivery, a logistics solution provider, for Rs 461 crore through open market transactions.

Additionally, prominent financial institutions like HDFC Mutual Fund, Axis MF, and others bought shares of the Gurugram-based company, according to information from the NSE block deal. The acquisition involved over 1.19 crore equity shares, averaging Rs 387 each, culminating in a total value of Rs 461 crore.

At the same time, Nexus Venture Partners divested an equal number of shares, slightly diminishing its 5.88% holding. Notably, Delhivery's shares experienced a slight drop of 0.54%, closing at Rs 386.05 on the NSE. In a strategic expansion move, Delhivery recently announced purchasing Ecom Express for approximately Rs 1,400 crore.

(With inputs from agencies.)