Tiger Global Management Offloads Delhivery's Shares For Rs 388 Crore

Tiger Global Management on Tuesday offloaded shares worth Rs 388 crore of supply chain player Delhivery through an open market transaction.

Internet Fund III Pte, a fund managed by US-based private equity firm Tiger Global Management, sold the shares of Delhivery.

According to the bulk deal data available with BSE, Internet Fund III Pte offloaded more than 1.17 crore shares amounting to 1.6 per cent stake in the company.

The shares were sold at an average price of Rs 330 apiece, taking the transaction value to Rs 387.87 crore.

Details about the buyers of the shares could not be ascertained.

As of December quarter, Tiger Global held a 4.68 per cent stake in the firm.

Shares of Delhivery closed 0.82 per cent up at Rs 330.80 per piece on BSE.

In a separate transaction, PGIM India Mutual Fund (PGIM India MF) sold shares of Sagar Cements for Rs 110 crore through an open market transaction.

PGIM India MF offloaded 60,39,698 shares of the firm at an average price of Rs 183.1 per piece, as per the block deal data available with the BSE.

This took the deal value to Rs 110.58 crore.

These shares were acquired by ICICI Prudential MF.

On Tuesday, shares of Sagar Cements closed 8.33 per cent higher at Rs 200.25 apiece on BSE.