Venture capital firm Nexus Venture Partners sold a 1.6% stake in logistics company Delhivery for Rs 530 crore, equivalent to about $57 million, through bulk and block deals on the National Stock Exchange. Domestic mutual funds, including Nippon India and SBI, absorbed most of the shares, signaling sustained investor confidence in the firm. Delhivery's stock rose 3.57% to close at Rs 457.8, pushing its market capitalization to Rs 34,271 crore.
Details of the Block Sale
Nexus Ventures III and Nexus Opportunity Fund offloaded nearly 1.2 crore shares at Rs 442 each, according to exchange data. Buyers included Nippon India Mutual Fund and SBI Mutual Fund, which each picked up 45.75 lakh shares in a Rs 404 crore portion of the deal. Other participants comprised BNP Paribas, ICICI Prudential Mutual Fund, Edelweiss Mutual Fund, and Alphamine Absolute Return Fund.
Mutual Funds Boost Holdings
Before this transaction, SBI Mutual Fund held a 5.5% stake in Delhivery, while Nippon India owned 2.9%. Their purchases reinforce a pattern of domestic institutional investors increasing exposure to high-growth logistics providers amid India's expanding e-commerce sector. Such moves often stabilize stock prices and reflect bets on operational improvements.
Nexus Reduces Post-IPO Exposure
Nexus has steadily cut its Delhivery holding since the company's initial public offering, dropping from 10.26% to 4.49% by December 2025. This latest sale continues that strategy, allowing the firm to realize gains from an early investment while freeing capital for new opportunities. Logistics firms like Delhivery benefit from reduced promoter selling pressure over time.
Delhivery's Recent Financial Strength
The company posted an 18% year-on-year revenue increase to Rs 2,805 crore in Q3 FY26, with profit climbing 59% to Rs 40 crore. These results underscore Delhivery's ability to scale operations in a competitive market driven by online retail demand. The positive market reaction to the stake sale suggests investors view the firm's trajectory favorably.