Canada Pension Plan Investment Board to Exit Delhivery As It Offloads Remaining 3.18% Stake

Following the series of large share sell-offs, CPPIB (Canada Pension Plan Investment Board) is going to completely sell its residual shareholding in Delhivery

CPPIB initially invested in Delhivery in September 2019 where it bought 8% of its stake at $115 million.

India’s Gurugram-based Delhivery grew rapidly to become one of the significant logistics outfits across the country and providing all-India supply chain solutions.

It sold 20.45 million shares at an average selling price of ₹ 444.30 apiece in April 2024, amounting to 2.8 per cent in Delhivery.

The decision to divest comes as global investors are reassessing their holdings in Indian startups more broadly.

Delhivery is able to draw the continuous interest of global investors; this goes on to prove its operational model and growth potential in India’s logistics sector.