iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Softbank may sell Rs 600 crore stake in Delhivery, today

1 Mar 2023 , 08:16 AM

According to news reports, on Wednesday, the Japanese multinational company Softbank Group plans to sell shares in Delhivery for Rs600 crore through block demand.

If there is a high demand, the conglomerate might consider increasing the quantum of sale.

The shares will probably be offered at a discount of 3–5% below the going rate. Shares of the logistics services provider closed Tuesday’s trading session on the NSE at Rs 344.80, down 0.1%. The deal’s broker is Citigroup.

Softbank may have taken some profits off the table as a result of the stock’s comeback and this month’s significant gains.

Shares of Delhivery increased by around 15% in February. Since the stock was listed in June of last year, it has now returned double digits twice in a single month.

As of the end of December, Softbank, through its firm Svf Doorbell (Cayman) Ltd., held an 18.42% stake in the logistics company, making it the single largest public shareholder. Softbank has already purchased more than 22% of Delhivery prior to the company’s IPO.

Tiger Global Management, an American investment management company, has Monday sold a 1.7% stake in Delhivery on the open market for Rs414 crore. By the end of December, Tiger Global owned 4.68% of the business through its venture capital firm.

One of the biggest players in Indian logistics, Delhivery offers full-stack solutions for the whole value chain.

Delhivery posted a net loss of Rs196 crore for the December quarter as opposed to Rs126.5 crore in the same period last year. The business reported a deficit for the fifth consecutive quarter.

 

explored-media

Related Tags

  • Block deals
  • Delhivery
  • Softbank
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.