Global alternative asset manager Alpha Wave Global has fully exited its position in Indian logistics firm Delhivery, selling its entire 1.93% stake through open market transactions.
The divestment, valued at approximately ₹665 crore, was executed at prices ranging between ₹460.03 and ₹460.36 per share.
Delhivery shares fell more than 2% in early Thursday trading following the disclosure of the stake sale.
Delhivery shares fell more than 2% in early Thursday trading following the disclosure of the stake sale.
The selling pressure from the institutional exit compounded broader weakness in Indian equity markets, which have been grappling with global risk aversion and a sharp retreat in technology stocks.
The Nifty 50 recently recorded its steepest decline in weeks, falling 1.16% as domestic sentiment cooled.
The complete exit by Alpha Wave Ventures LP marks a notable shift in the shareholder base for the logistics company.