Delhivery Block Deal: Morgan Stanley, Citigroup Among Buyers After Nexus Ventures Pares Stake

Marquee foreign institutions like Morgan Stanley and Citigroup were among the buyers of Delhivery Ltd. shares on Thursday after a prominent public shareholder reduced its stake.

Venture capital firm Nexus Venture Partners, through its affiliates Nexus Opportunity Fund and Nexus Ventures III, offloaded 1.19 crore shares or 1.6% equity for Rs 461 crore via block deals, as per NSE data.

The firm held a 5.88% stake in Delhivery as of March. Besides, FPIs had nearly 30% shareholding.

Morgan Stanley bought 47.72 lakh shares or 0.64% equity for Rs 184 crore and Tata Mutual Fund bought 16.45 lakh shares (0.22%) for Rs 75 crore.

Hill Fort India Fund LP, HDFC Mutual Fund and Axis Mutual Fund were other buyers.

The shares were exchanged at an average price of Rs 387 apiece. The stock had a 33.72% delivery ratio for the session.

Last week, Jefferies downgraded the stock to 'underperform'. The stock rallied 41% post the Ecom Express deal in April 2025, reflecting optimism on industry consolidation. But Meesho's insourcing could pressure its third-party logistics express parcel or EP business, the brokerage said.

Shares of Delhivery settled 0.54% lower at Rs 384.8 apiece on the NSE, compared to a 1.2% advance in the Nifty 50.