Connect with us

Investing

PE firm Carlyle proposes to sell 2.53% stake in India’s Delhivery

Published

on

© Reuters.

BENGALURU (Reuters) – Private equity firm Carlyle has proposed to exit Indian logistics firm Delhivery by selling its remaining 2.53% stake via its special purpose vehicle CA Swift Investments, according to a term sheet seen by Reuters on Thursday.

Carlyle plans to sell Delhivery’s shares at a floor price of 385.50 rupees apiece compared with the last close at 388.60 rupees.

At the lower range, the total offer size is worth $86 million.

Carlyle was an early backer of Delhivery.

Citigroup (NYSE:) is acting as the bookrunner for the transaction.

This week has seen multiple exits by early investors in Indian companies.

U.S. private equity firm TPG sold its entire stake in non-banking financial company Shriram Finance for $171 million and British asset manager abrdn plc exiting HDFC Asset Management Co in $432-million stake sale.

Read the full article here

Trending