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Delhivery's Stock Soars Over 7% Amid Speculations of Carlyle Stake Sale

Carlyle, a private equity firm from the United States, intends to divest its entire 2.53% ownership in the Indian e-commerce logistics company. This stake sale, facilitated through its special purpose vehicle CA Swift Investments, is anticipated to yield a minimum of $86 million.
Delhivery's Market Value Jumps as Carlyle Contemplates Selling Stake
As a pre-IPO investor, The Carlyle Group played a significant role in supporting Delhivery, a logistics service provider based in Gurugram.

 Latest News Updates: On Thursday, during the initial trading session, Delhivery experienced a notable increase in its share price, rising over 7%. This surge was triggered by reports suggesting that Carlyle is considering selling its complete 2.53% ownership stake in the company. The stock price soared by as much as 7.3% to reach ₹416.75 at the opening, although it later retraced some of its gains.

According to a term sheet reviewed by Reuters, Carlyle, a private equity firm based in the US, intends to sell its complete 2.53% ownership stake in an Indian e-commerce logistics company through its special purpose vehicle CA Swift Investments. The expected transaction value ranges from a minimum of $86 million to as much as ₹709.5 crore. Reuters also reported that the block deal's floor price was set at ₹385.50 per share, with Citigroup serving as the bookrunner for the transaction.

Gurugram-based logistics service provider, Delhivery, counted The Carlyle Group among its pre-IPO investors. In November 2022, after the IPO lock-in period concluded, the private equity firm sold a 2.5% stake in the company for ₹607 crore.

Over the past year, Delhivery's shares have experienced a significant decline, plunging by more than 22%. As of 10:55 am, the share price of Delhivery on the BSE exhibited a slight increase of 0.12%, reaching ₹388.85 per share.