Tiger Global’s Internet Fund III sold 1.2 crore shares of logistics firm Delhivery in a bulk transaction worth INR 414.2 crore on Wednesday (February 22).
On the BSE, shares of Delhivery fell 3.6% to INR 336.4 at the close of today’s session. As of December 31, 2022, Internet Fund III owned 3.4 million shares of Delhivery, representing a 4.68% stake. The VC fund has sold a 1.7% stake in the company in the latest transaction. This comes nearly three months after another pre-IPO investor in Delhivery, CA Swift Investments, sold 2.5% of its stake, or 18 million shares, in the logistics startup for INR 607 crore after the lock-in period expired.
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