Canadian pension fund CPPIB plans to use a $110 million block transaction to sell a portion of its Delhivery investment

Canadian pension fund CPPIB plans to use a $110 million block transaction to sell a portion of its Delhivery investment

Apart from Delhivery, CPPIB has already placed bets in other innovative companies such as Zomato, Flipkart, Nykaa, Acko, Dailyhunt, Paytm, and Byju's.

Exchange data indicates that CPPIB presently owns 5.96 percent of Delhivery.

Three people with knowledge of the matter informed Moneycontrol that the leading Canadian pension fund, CPPIB (Canada Pension Plan Investment Board), is seeking to sell a portion of its ownership in Delhivery, a supplier of logistics services, for around $110 million.

One of the aforementioned individuals said, "CPPIB intends to monetize a portion of its stake through the block deal route in Delhivery."

Exchange data indicates that CPPIB presently owns 5.96 percent of the company, which is supported by Fedex, Softbank, Nexus Ventures, and Steadview Capital.

Softbank has already reduced its ownership stake in Delhivery via block transactions in November and March of 2023.

Kotak Mahindra Capital is the adviser on the planned deal by CPPIB, a second source informed Moneycontrol.

A third party verified the pension fund's aforementioned plans.

Speaking on the condition of anonymity, all three individuals talked with Moneycontrol.

CPPIB refused to respond when reached.

Moneycontrol is awaiting word from Kotak Mahindra Capital and Delhivery, and will update this item as soon as it receives it.

In addition to Delhivery, CPPIB has already placed wagers on other cutting-edge companies such as Zomato, Flipkart, Nykaa, Acko, Dailyhunt, Paytm, and Byju's.

Over the last year, Delhivery's stock price has increased by 23.55 percent. After going public in 2022, the company only recently started to earn a profit.