Nexus Venture Partners Trims Delhivery Holdings with INR 208 Crore Share Sale
Nexus Venture Partners, an early investor in Delhivery, has offloaded shares worth INR 208 crore through a block trade, significantly paring its holdings in the logistics firm. It’s the third time the company has divested a stake in the June quarter.
In a block deal that took place on 24 June, Nexus Venture Partners, an early backer of logistics company Delhivery, sold shares for INR 208 Cr. This was Nexus's third stake sale in the June quarter. At a price of INR 481 per share, the venture capital firm sold 43.24 lakh shares held by Nexus Ventures III Ltd. A price that is 1% greater than the closing price today was used to clinch the agreement.
This is on top of the share sales that the venture capital firm has already completed in the logistics major. On April 8, Nexus sold INR 530 Cr worth of Delhivery shares, then on April 15, they sold 40 Lakh shares, for a total of INR 186 Cr. Morgan Stanley, Goldman Sachs, Edelweiss Mutual Fund, Nippon India Mutual Fund, and Viridian Asia Opportunities Fund were among the domestic and international institutional investors that bought shares at that time.
Nexus Wrapping Down its Investments in Delhivery
Upon Delhivery's public listing in 2022, Nexus began a gradual reduction in its ownership. After the deal on April 8, Nexus Ventures III's and Nexus Opportunity Fund's combined investment dropped to 3.55%, according to an April regulatory filing. Delhivery will reveal its shareholding pattern for the June quarter, but with the stake transactions included in, Nexus' position is likely to have shrunk much further. Improving financial success at Delhivery is the backdrop to the equity sale.
The logistics giant's net profit increased 8% year-over-year to INR 321 Cr in FY26, with service revenue increasing 17% to INR 10,486 Cr. Sahil Barua, Mohit Tandon, Suraj Saharan, Kapil Bharati, and Bhavesh Manglani established Delhivery in 2011. The company provides a range of services, including freight, warehousing, supply chain management, and quick parcel delivery. Aside from growing its parcel delivery operation, the company's main goal has been increasing profits.
Delhivery Entered into Partnership with Bajaj Auto
Another development from earlier in the day had Delhivery informing exchanges of an arrangement it had made with Bajaj Auto. The agreement calls for the logistics company to equip its last-mile delivery network with 200 Bajaj RIKI e-carts. The deployment, according to the corporation, marks the beginning of the cooperation. Around 1,500 electric three-wheelers (L3 and L5) from Bajaj could be included in the second phase, which is scheduled for 2026–27.
The partnership between Delhivery and Bajaj Auto helps its delivery partners financially, according to Prashant Gazipur, COO of Delhivery's in-city operations. In addition to helping clients achieve their environmental goals, partnerships can benefit businesses. He continued by saying that the company's last-mile network would be safer, more financially rewarding, and in line with agreed ESG goals after deployment throughout metros and growing Tier-2 and smaller markets.
