Nexus Ventures Sells 1.2 Cr Shares Of Delhivery

Amid a flurry of large deals for new-age tech stocks today, VC firm Nexus Venture Partners offloaded 1.2 Cr shares of logistics major Delhivery via block deals for INR 461 Cr. 

The VC firm sold 1.02 Cr shares at INR 387 apiece from its fund Nexus Venture Partners III, raking in INR 395.2 Cr. It offloaded 17 Lakh shares from its Nexus Opportunity Fund for INR 65.8 Cr. 

The shares were lapped up by Axis Mutual Fund, Citigroup Global Markets, HDFC and Ask Absolute Return Fund, Tata Mutual Fund, among others. The largest buyer was Morgan Stanley Asia Singapore, which bought over 47 Lakh shares worth INR 184.7 Cr. 

Notably, Nexus Venture Partners held 4.39 Cr shares, or 5.88% stake, of the logistics company at the end of the March quarter. The investor has been steadily laying off its stake in the logistics major since its listing. 

It held a 10.26% stake in the company at the time of its listing through its two funds, Nexus Ventures III and Nexus Opportunity Fund. Prior to this, it sold over 78.19 Lakh shares of Delhivery for INR 344 Cr in August 2024.

Shares of Delhivery have been on an upward trend this year and are up 11% year to date. The stock closed today’s session 0.82% lower from the previous close at INR 384.95 on the BSE.

The uptick in the shares has come on the back of Delhivery’s improving financial performance. In Q4 FY25, the company’s consolidated net profit stood at INR 72.6 Cr as against a loss of INR 68.5 Cr in the year-ago quarter. Operating revenue grew 6% to INR 2,191.6 Cr in Q4 FY25 from INR 2,075.5 Cr in the year-ago quarter.

With that, the company registered its first profitable fiscal year in FY25, posting a net profit of INR 162.1 Cr as against a loss of INR 249.2 Cr in FY24.