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Nexus Ventures Sells 1.2 Cr Shares Of Delhivery

Inc42 · 7m ago

Nexus Ventures Sells 1.2 Cr Shares Of Delhivery

Nexus Venture Partners sold 1.2 crore shares of Delhivery for INR 461 crore through block deals. The major buyers included Axis Mutual Fund, Citigroup Global Markets, HDFC, and Tata Mutual Fund, among others. Morgan Stanley Asia Singapore emerged as the largest buyer, acquiring over 47 lakh shares worth INR 184.7 crore. Most shares, 1.02 crore, were sold from Nexus Venture Partners III for INR 395.2 crore, with additional shares sold from Nexus Opportunity Fund.

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Nexus Ventures Partners sells 1.06% stake in Delhivery for Rs 344 Cr

YourStory

YourStory · 1y ago

Nexus Ventures Partners sells 1.06% stake in Delhivery for Rs 344 Cr

Venture capital firm Nexus Ventures Partners has sold 1.06% stake in Delhivery, an Indian integrated third-party logistics service provider, for over Rs 344 crore. The sale was conducted through a bulk deal on the National Stock Exchange (NSE), with Nexus Ventures III selling over 78 lakh shares at an average price of Rs 440 apiece. The buyers of the shares have not been disclosed. Prior to the sale, Nexus Ventures III held a 7% stake in Delhivery. Following the transaction, shares of Delhivery settled 1.94% lower at Rs 429.70 on the NSE.

Delhivery surges almost 7% intraday after launch of new trucking terminal in Bhiwandi

Inc42 · 2y ago

Delhivery surges almost 7% intraday after launch of new trucking terminal in Bhiwandi

Shares of Delhivery surged almost 7% during intraday trading after the logistics company announced the launch of its largest mega-gateway in Bhiwandi, one of India's largest trucking terminals. The new terminal, built over a sprawling 1.2 million square feet area, will boost Delhivery's capacity for Mumbai and the West Zone's freight shippers. Equipped with an advanced automation system, the facility can handle over 32,000 shipments and 17,000 freight units per hour. Delhivery aims to maintain world-class service and increase its presence in the logistics market.

Canada Pension Plan Investment Board Exits Delhivery By Selling Remaining 2.34 Cr Shares

Inc42 · 1y ago

Canada Pension Plan Investment Board Exits Delhivery By Selling Remaining 2.34 Cr Shares

Canada Pension Plan Investment Board (CPPIB) recently sold its shares in logistics unicorn Delhivery in multiple block deals worth INR 910.2 Cr. This comes after CPPIB had already offloaded 2.04 Cr shares in April, resulting in a complete exit from Delhivery. Several funds, including HSBC, ICICI Prudential, BofA Securities, Societe Generale, Aditya Birla Sun Life Mutual Fund, and Nippon India Mutual Fund, were among the buyers.

Turtlemint files updated DRHP for Rs 660 Cr fresh issue IPO

Entrackr

Entrackr · 9d ago

Turtlemint files updated DRHP for Rs 660 Cr fresh issue IPO

Turtlemint files updated DRHP for Rs 660 Cr fresh issue IPO Insurtech firm Turtlemint has filed an updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). This development comes a month after SEBI granted regulatory approval for the company’s plan. Turtlemint’s IPO comprises a fresh issue of equity shares worth Rs 660 crore (approximately $73.3 million), with the offer for sale (OFS) component of 2.86 crore shares. According to the UDRHP, the OFS will be led by Nexus Venture Partners, offloading 91.43 lakh shares, followed by Peak XV Partners with 79.21 lakh shares. Other investors, including Jungle Ventures, Blume Ventures, GGV Ventures, and angel investor Kunal Shah, will also participate in the OFS. Co-founders Anand Prabhudesai and Dhirendra Mahyavanshi will offload 21.12 lakh and 22.1 lakh shares, respectively. Founded in 2015 by Dhirendra Mahyavanshi and Anand Prabhudesai, Turtlemint operates a marketplace connecting advisors with customers, offering insurance products across motor, health, and life categories. It also provides financial products such as mutual funds and loans, equipping advisors with digital tools to expand their business. Turtlemint will use the fresh IPO proceeds to allocate about Rs 193 crore toward salary expenses for technology and product development, and Rs 129 crore for investment in its subsidiary, TIB. The remaining amount will be used for cloud and server infrastructure, marketing, lease payments for existing properties, and other corporate purposes. As of the UDRHP filing date, Nexus Venture Partners is the largest shareholder with a 24.05% stake, followed by Peak XV Partners with 20.84%. Co-founders hold 8.72% and 8.33% stakes respectively, while Jungle Ventures holds 4.54% and Kunal Shah owns 1.45%. During H1FY26, the firm reported a twofold increase in operating revenue to Rs 463.3 crore, while losses widened 27% to Rs 126 crore.

Turtlemint Files Revised DRHP for INR 660+ Cr Public Issue

StartupTalky

StartupTalky · 8d ago

Turtlemint Files Revised DRHP for INR 660+ Cr Public Issue

Insurtech startup Turtlemint has filed a revised draft red herring prospectus (DRHP) with the Securities Exchange Board of India (SEBI) for an INR 660.7 crore public issue. The public offering includes a fresh equity issue and an offer-for-sale (OFS) component with shares from co-founders and early investors like Nexus Ventures. Turtlemint connects customers with insurers through its platform and has expanded into mutual fund distribution and SaaS offerings, experiencing substantial revenue growth despite financial losses.

TTK Prestige announces share buyback at Rs 1,200 per share to raise up to Rs 200 cr

Money Control

Money Control · 1y ago

TTK Prestige announces share buyback at Rs 1,200 per share to raise up to Rs 200 cr

TTK Prestige has announced a share buyback plan to raise up to Rs 200 crore. The company plans to buy back 16.67 lakh shares at a price of Rs 1,200 per share. This represents 1.2% of the company's total paid-up equity shares. The record date for the buyback has been set as August 14, 2024, and further details will be released in accordance with the Buyback Regulations. Inga Ventures Private Limited has been appointed as the Manager for the proposed buyback.

Delhivery, AWS and Nexus launch startup accelerator Velocity for logistics companies

Economic Times

Economic Times · 2y ago

Delhivery, AWS and Nexus launch startup accelerator Velocity for logistics companies

Logistics major Delhivery has partnered with Amazon Web Services (AWS) and Nexus Venture Partners to launch a six-week accelerator program called Velocity for logistics startups. The inaugural edition of Velocity had 20 selected startups, receiving mentoring and insights on fundraising strategies and growth hacking. Delhivery aims to build a logistics ecosystem to help new entrepreneurs transform their ideas into functional business solutions in the rapidly growing logistics industry.

Canada Pension Board Offloads Nykaa Shares For INR 256 Cr

Inc42 · 1y ago

Canada Pension Board Offloads Nykaa Shares For INR 256 Cr

Canadian Pension Plan Investment Board (CPPIB) has sold its remaining 3.18% stake in logistics company Delhivery for INR 910 Cr. In another deal, ICICI Prudential Mutual Fund India purchased shares sold by beauty e-commerce major Nykaa. CPPIB sold over 1.47 Cr shares of Nykaa for INR 256.4 Cr in a block deal at a price of INR 174.04 per share.

Moneyview Turns Unicorn After Raising $4.6 Mn From Accel India, Nexus Ventures

Inc42 · 1y ago

Moneyview Turns Unicorn After Raising $4.6 Mn From Accel India, Nexus Ventures

Accel and Nexus have both invested in Moneyview, with Accel investing INR 19.5 Cr and Nexus investing INR 19.1 Cr. This could be part of a larger funding round. Moneyview has now reached a valuation of $1.2 Bn, making it the sixth startup to become a unicorn in 2024. Additionally, Moneyview has acquired earned wage access platform Jify to expand its range of services.

Atomgrid raises Rs 10 Cr in seed round led by Merak Ventures

Entrackr

Entrackr · 1y ago

Atomgrid raises Rs 10 Cr in seed round led by Merak Ventures

Atomgrid, an R&D-first platform for contract development, manufacturing and sourcing of specialty chemicals, has raised Rs 10 crore (around $1.2 million) in its seed round led by Merak Ventures. The round also saw participation from Dexter Ventures, Upsparks, Point One Capital and UniCards’s founders Nitin Gupta and Prateek Jindal. The proceeds will be used to expand its in-house R&D infrastructure, increase global outreach, build a supply chain tech platform and hirings, the firm said in a press release. Founded by Lakshit Bansal, Siddharth Gupta and Pratik Chowdhury, Atomgrid is an R&D first platform for contract development, manufacturing and sourcing of specialty chemicals. The platform aims to empower Indian chemical manufacturers to establish a global footprint by solving critical challenges faced by them on R&D, global outreach, raw material sourcing and tech enablement. Atomgrid competes with 3one4 Capital-backd Scimplifi and Nexus-backed Covvalent. The investment in Atomgrid marks Merak’s third significant investment of the year. Previously, it invested in Farmtheory and Rupyz.

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