SoftBank sells shares worth Rs 954 crore in Delhivery

SoftBank has sold 3.85% or 2.8 crore shares worth Rs 954 crore in Gurgaon-based logistics firm Delhivery through bulk deals on Wednesday. Shares were sold at Rs 340.80 apiece.

SoftBank is the largest public stakeholder in the logistics company, holding an 18.42% stake as of December 31, 2022, through its entity SVF Doorbell (Cayman) Ltd. Softbank acquired over 22% stake in the company in October 2018.

Shares of Delhivery, which floated its initial public offering in May last year, at an issue price of Rs 487, ended 1.23% higher at Rs 348.40 on Wednesday.


Last week, American investment management firm Tiger Global Management sold 1.7% stake in Delhivery through the open market for Rs 414 crore. As of December-end, Tiger Global through its venture capital firm held 4.68% stake in Delhivery.

Delhivery is among the largest logistics players in India with full-stack solutions across the value chain.

For the December quarter, Delhivery reported a net loss of Rs 196 crore compared to a loss of Rs 126.5 crore a year ago. The company posted a loss for the 5th straight quarter.

Earlier last month, Jack Ma-founded Alibaba Group had sold its remaining 3.3% stake in Paytm parent One97 Communications through the open market and mopped Rs 1,378 crore. Alibaba.com Singapore E-Commerce Pvt Ltd had sold 3% stake in January too, which reaped Rs 1,031 crore.

ET reported last week that large investors in One 97 Communications, including Masayoshi Son’s SoftBank and China’s Ant Group, an affiliate of Alibaba, have discussed selling shares in the company through a secondary stock deal.

Ant and SoftBank are likely to offload shares gradually in the market as part of their plan to exit Paytm, people in the know said.