Top Canadian pension fund CPPIB (Canada Pension Plan Investment Board) has sold part stake of around 2.77 percent in logistics services provider Delhivery for around $110 million, according to bulk deal data disclosed on the exchanges.
According to exchange data, CPPIB currently holds 5.96 percent stake in the firm, which is also backed by the likes of Softbank, Nexus Ventures, Steadview Capital and Fedex.
Softbank has diluted its shareholding in Delhivery earlier through block deals in November and March 2023.
A source told Moneycontrol that Kotak Mahindra Capital is the advisor on the trade by CPPIB. He spoke on the condition of anonymity.
When contacted, CPPIB declined to comment.
Moneycontrol is awaiting a response from Delhivery and Kotak Mahindra Capital and will update this article as soon as it hears from them.
Over and above Delhivery, CPPIB has also bet on other new-age firms in the past like Zomato, Flipkart, Nykaa, Acko, Dailyhunt, Paytm and Byju's.
Delhivery's stock price has risen by 23.55 percent in the last year. The firm turned profitable for the first time recently, post its IPO in 2022.
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