CPP Investments clocks exit from Delhivery

CPP Investments, which ended the previous fiscal year, 2023-24, with its net assets in India breaching the C$20-billion (Rs 1.21 trillion) mark even as it moderated the pace of its private equity-style investments in the country, has logged a monetisation move in India. The fund sold nearly half its 6 per cent odd stake in ecommerce-focused logistics company, Delhivery. In the process it encashed over Rs 9 billion, virtually taking out its principal investment amount, via a secondary market transaction. Its remaining stake is worth Rs 10.50 billion.