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 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.
(Reporting by Sethuraman NR in Bengaluru; Editing by Sohini Goswami)
