Canada Pension Plan offloads Nykaa, Delhivery shares for Rs 1,166 crore

Bulk deal update: The Canada Pension Plan Investment Board (CPPIB) executed a significant divestment on Wednesday, selling shares in FSN E-Commerce Ventures, the parent company of Nykaa, and logistics company Delhivery, amounting to a total of Rs 1,166 crore through open market transactions.

Block deal data from the BSE reveals that CPPIB offloaded over 2.34 crore shares, which represent a 3.2 per cent stake in Delhivery. Similarly, data from the National Stock Exchange (NSE) indicates that CPPIB sold a total of 1,47,34,000 shares, amounting to a 0.5 per cent stake in FSN E-Commerce Ventures.

The shares were sold within a price range of Rs 174.04-388.45 per share on both the NSE and BSE, bringing the combined value of these transactions to Rs 1,166.62 crore.

As of the end of the March quarter, CPPIB, a crown corporation of the Canadian government, held a 1.47 per cent stake in FSN E-Commerce Ventures and a 5.96 per cent stake in Delhivery.

The buyers of Delhivery's shares on the BSE included prominent 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.

In addition, ICICI Prudential Mutual Fund acquired shares of FSN E-Commerce Ventures at the same price, according to NSE data.

On the trading front, shares of FSN E-Commerce Ventures saw a marginal increase of 0.11 per cent to close at Rs 176 per share on the NSE, while Delhivery’s shares experienced a decline of 1.17 per cent, ending at Rs 387.75 per share on the BSE.

(With PTI inputs.)