Alpha Wave Ventures completed its exit from logistics firm Delhivery by selling shares worth about ₹665 crore through multiple bulk deals on June 24. The venture capital firm offloaded a total of 1.44 crore shares, representing nearly 2% of Delhivery's outstanding share capital, at prices around ₹460 per share on the NSE and BSE, according to bulk deal data on the exchanges.
The sale involved offloading 72.22 lakh shares each on the BSE and NSE, with prices of ₹460.36 and ₹460.03 per share respectively. Alpha Wave Ventures had held these shares at the end of the March quarter. The firm initially invested in Delhivery before its 2021 IPO and participated as an anchor investor during the IPO in May 2022. This transaction marks Alpha Wave’s complete exit from the company, as confirmed by the shareholding data and bulk deal disclosures on the exchanges.
This exit follows a broader pattern of early investors monetising their stakes in Delhivery after its public listing. For instance, Nexus Venture Partners sold shares worth ₹208 crore recently, marking its third stake sale in the June quarter. Earlier in April, Nexus sold shares worth ₹530 crore and another tranche worth ₹186 crore. These moves indicate a trend of early backers reducing exposure in the listed logistics company, reflecting evolving investor strategies post-IPO.
Delhivery’s shareholding structure has seen significant changes since its IPO in 2022, with early investors like Alpha Wave Ventures and Nexus Venture Partners steadily reducing their stakes through bulk deals. The latest transaction by Alpha Wave Ventures on June 24 is the latest in a series of large-scale share sales by early investors in the company, as per exchange filings and bulk deal data.