The private equity firm Carlyle is expected to sell a 2.53 percent interest in the e-commerce logistics business Delhivery Ltd. today at a price of Rs 385.50 per share, which would bring in a total of Rs 709.50 crore, or $86 million. This will put the spotlight on the shares of Delhivery Ltd. on Thursday morning. Reports indicate that Carlyle, operating via an organisation known as CA Swift Investments, intends to sell all 18.4 million shares of Delhivery and completely withdraw from the market for the company’s stock. The price represents a decrease of 0.9% when compared to the closing price of Rs 388.95 on Wednesday. According to reports, Citigroup has been selected to act as the transaction’s only broker.
Express package delivery, part- and full-truckload freight, storage, supply chain solutions, and cross-border services are all provided by Delhivery, an integrated logistics firm. It has a 40 percent share of the third-party express parcel delivery service market and a 20 percent share of the total market in India, making it the biggest third-party express parcel delivery service provider in India. The complete logistical infrastructure that Delhi has spans 18 million square feet and has a reach that encompasses 18,000 pin-codes, which accounts for 96 percent of India.
Macquarie said that integrated operations may drive cost competitiveness for Delhivery after the firm recently conducted its Analyst Day. As a result of this event, the company proposed a target price of Rs. 460 for the shares. According to Kotak Institutional Equities, one item that is not yet particularly evident is the route that has to be taken in the near term to achieve an adjusted Ebitda margin of 10% (or a service Ebitda margin in the high teens). It has accounted for an EBITDA margin of 7 percent and the beginning of free cash flow (FCF) beginning in FY2026E. The stock is anticipated to reach Rs. 410, which is the target price set by this brokerage.
Recent news from Delhivery indicated that the company’s net loss for the March quarter increased to 159 crore rupees. In the same quarter of the previous year, it posted a net loss of Rs 120 crore.
The company’s revenue from operations dropped by 10% during the March quarter, reaching a total of 1,860 crore as opposed to 2,072 crore during the same period in the previous fiscal year.
