PE firm Carlyle proposes to sell 2.53% stake in India's Delhivery (updated)

Delhivery

22/06/2023 04:34

(Adds details on the stake sale, bookrunner and background on
exits this week on other companies)
       BENGALURU, June 22 (Reuters) - Private equity firm
Carlyle has proposed to exit Indian logistics firm Delhivery
 DELH.NS  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 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  SHMF.NS  for $171 million and British asset manager
abrdn plc  ABDN.L  
    exiting
     HDFC Asset Management Co in $432-million stake sale. 
  

 (Reporting by Sethuraman NR in Bengaluru; Editing by Sohini
Goswami)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))