MUMBAI – Japanese IT giant Softbank is looking at selling a partial stake in logistics service provider Delhivery for around $150 million through block deals on Friday, according to news reports.
As of September end, Softbank, through its entity Svf Doorbell (Cayman) held 14.46% stake in the company.
According to reports, Softbank is looking at selling about 4% stake in the logistics services provider. So far in 2023, shares of Delhivery have given healthy returns of nearly 25% to investors.
In March, SoftBank sold 2.84% stake in Delhivery for Rs 954.2 crore through multiple block deals in the open market.
Over the last two years, SoftBank has been reducing its investments in startups globally. Recently, it offloaded its stake in Paytm parent One97 Communications and PB Fintech. In November last year, Softbank sold 4.5% stake in Paytm for $200 million.
On Thursday, shares of Delhivery ended 0.6% up on the National Stock Exchange at Rs 413.85. Reports did not cite the price at which Softbank plans to sell stake through the block deal on Friday.
