Multinational investment holding firm, SoftBank, is likely to sell a stake worth $150 million in logistics firm Delhivery via a fresh block deal, Moneycontrol reported on Thursday citing sources.
The Japanese conglomerate is reportedly selling a 4% stake in Delhivery, via a block deal, reported the business news website in a social media post on X, formerly known as Twitter.
Delhivery’s shares closed 0.6% higher at 413.85 rupees on Thursday.
Mint couldn’t independently verify the claim. Till now, there has been no official confirmation by SoftBank and Delhivery. Kotak Mahindra Capital is the advisor on the block deal, Moneycontrol’s post said.
SoftBank, through its subsidiary SvF Doorbell (Cayman), owned a 14.5% stake in the logistics firm as of September 30. Earlier, the group had offloaded 3.8% of its stake in March. The Japanese investment firm had offloaded a stake worth ₹954 crore in March this year.
SoftBank had invested a total of $380 million in the Indian logistics firm. The bulk deal worth ₹954 crore in Delhivery took place at ₹340 apiece.
The bulk deal transaction, that took place in March, was joined by investors like the Saudi Arabian Monetary Authority, City of New York Group Trust, Societe Generale, BNP Paribas Arbitrage, Morgan Stanley Mauritius, Baillie Gifford Emerging Markets Equities Fund, etc.
Before SoftBank, Tiger Global had sold 1.2 crore shares in Delhivery at ₹335 apiece.
SoftBank had booked a $5.2 billion loss in its September quarter, mainly because of the bankruptcy of the once high-flying WeWork. Compared to SoftBank’s $5.2 billion net loss for the three months to end-September in 2023, the investment group had reported a 3.0 trillion profit a year earlier when it sold down a large portion of its stake in Chinese e-commerce giant Alibaba.
