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