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Tiger Global offloads 1.7% stake in Delhivery for Rs 414 cr

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Internet Fund III Pte, a fund managed by Tiger Global Management sold 1,23,63,060 shares, amounting to 1.70 per cent stake in the company

New Delhi: Internet Fund III Pte, a fund managed by Tiger Global Management, on Wednesday divested a 1.7 per cent stake in supply chain company Delhivery for Rs 414 crore through an open market transaction.

Internet Fund III Pte sold 1,23,63,060 shares, amounting to 1.70 per cent stake in the company, according to the bulk deal data available with the National Stock Exchange (NSE).

The shares were offloaded at an average price of Rs 335.06 per scrip, taking the aggregate deal value to Rs 414.23 crore.

Post the transaction, Internet Fund III Pte’s shareholding in the company has reduced to 2.98 per cent from 4.68 per cent.

On Wednesday, shares of Delivery closed 3.61 per cent lower at Rs 336.30 apiece on NSE.

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