Major Divestment: CPPIB Offloads Shares in FSN E-Commerce Ventures and Delhivery
Contents
CPPIB divestment FSN E-Commerce Ventures Delhivery
Bulk Deal Update: CPPIB Sells Rs 1,166 Crore Worth of Shares in FSN E-Commerce Ventures and Delhivery
On Wednesday, the Canada Pension Plan Investment Board (CPPIB) conducted a significant divestment, selling shares in FSN E-Commerce Ventures, the parent company of Nykaa, and logistics company Delhivery. The total value of these transactions reached Rs 1,166 crore through open market deals.
Delhivery Stake Sale:
According to block deal data from the BSE, CPPIB offloaded over 2.34 crore shares, representing a 3.2% stake in Delhivery.
FSN E-Commerce Ventures Stake Sale:
Data from the National Stock Exchange (NSE) shows CPPIB sold a total of 1,47,34,000 shares, amounting to a 0.5% stake in FSN E-Commerce Ventures.
Transaction Details:
The shares were sold within a price range of Rs 174.04 to Rs 388.45 per share on both the NSE and BSE. This resulted in a combined value of Rs 1,166.62 crore for these transactions.
CPPIB Holdings as of March Quarter:
As of the end of the March quarter, CPPIB, a crown corporation of the Canadian government, held a 1.47% stake in FSN E-Commerce Ventures and a 5.96% stake in Delhivery.
Prominent Buyers:
The buyers of Delhivery’s shares on the BSE included notable institutions such as Nippon India Mutual Fund, Aditya Birla Sun Life Mutual Fund, ICICI Prudential Life Insurance, Copthall Mauritius Investment, Blackstone, Morgan Stanley, Ghisallo Master Fund LP, Fidelity Investments, Societe Generale, BofA Securities, and HSBC.
Additionally, ICICI Prudential Mutual Fund acquired shares of FSN E-Commerce Ventures at the same price, according to NSE data.
Market Reaction:
On the trading front, shares of FSN E-Commerce Ventures saw a marginal increase of 0.11%, closing at Rs 176 per share on the NSE. In contrast, Delhivery’s shares experienced a decline of 1.17%, ending at Rs 387.75 per share on the BSE.
Conclusion:
CPPIB’s divestment in FSN E-Commerce Ventures and Delhivery marks a significant move in the market, drawing interest from several prominent institutional investors.
1 comment