Alpha Wave Ventures Exits Delhivery Via ₹665 Cr Bulk Deals
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Venture capital (VC) firm Alpha Wave has parsed its stake in logistics major Delhivery by selling shares worth about ₹665 Cr via multiple bulk deals today.
As per bulk deal data on the exchanges, Alpha Wave Ventures, via its holding entity Alpha Wave Ventures, LP, offloaded 72.22 Lakh shares each on the BSE and NSE.
While the investor offloaded shares at ₹460.36 apiece on the NSE, it offloaded the same number of shares at ₹460.03 apiece. Cumulatively, the investor sold 1.44 Cr shares for about ₹665 Cr.
This marks a complete exit for Alpha Wave. The investor held 1.44 Cr shares at the end of the March quarter.
Based on Delhivery’s outstanding share capital, the cumulative sale translates to nearly 2% of the company.
Notably, Alpha Wave Ventures initially invested in Delhivery prior to its Initial Public Offering (IPO) in 2021, eventually participating as an anchor investor during the IPO in May 2022.
The transaction comes amid a broader trend of early investors monetising their holdings in the listed logistics company.
Yesterday, Nexus Venture Partners sold 43.24 lakh shares worth ₹208 Cr at ₹481 apiece. That marked Nexus’ third stake sale in the June quarter. Earlier in April, the venture capital firm had sold shares worth ₹530 Cr and another 40 lakh shares worth ₹186 Cr in separate transactions.
Nexus has been steadily reducing its exposure to Delhivery since the company’s public listing in 2022. Following its April 8 sale, the combined stake held by Nexus Ventures III and Nexus Opportunity Fund fell to 3.55%, according to regulatory filings.
With the subsequent stake sales, its holding is expected to decline further, although the exact figure will only become clear once Delhivery releases its June quarter shareholding pattern.
The recent exits come at a time when Delhivery has reported improving financial performance. For FY26, the logistics major posted a net profit of ₹321 Cr, up 8% YoY. Revenue from services grew 17% to ₹10,486 Cr during the year.
Shares of Delhivery increased 0.86%, closing at ₹476.5 on the BSE on Tuesday.
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