The Canada Pension Plan Investment Board (CPPIB) is likely to sell its entire 3.18 percent stake in logistics firm Delhivery through block deals on July 10, CNBC-TV18 reported citing sources.
According to the report, the issue size of the block is likely to be around Rs 886 crore with shares to be offered in a price range of Rs 378-Rs 389 apiece. This floor price represents a discount of 0.7-3.5 percent compared to Delhivery's closing price of Rs 399.65 on July 9.
CPPIB owned a 5.96 percent stake in the logistics company at the end of the March quarter of FY24. However, since then, CPPIB has already offloaded a 2.77 percent stake in Delhivery, selling around two crore shares for Rs 900 crore on April 25.
(This is a developing story. Please come back for more.)
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