Active Stocks
Tue Dec 05 2023 15:57:23
  1. Power Grid Corporation Of India share price
  2. 222.4 4.46%
  1. Tata Steel share price
  2. 131.6 0.5%
  1. NTPC share price
  2. 285.5 3.89%
  1. State Bank Of India share price
  2. 608.4 2.31%
  1. ICICI Bank share price
  2. 1,013.15 2.28%
Business News/ Companies / Start-ups/  SoftBank to sell $154 mn shares in Delhivery
Back Back

SoftBank to sell $154 mn shares in Delhivery

SoftBank will continue to hold 10-11% in the new-age logistics firm after the sale

Masayoshi Son, CEO, SoftBank Group Corp.Premium
Masayoshi Son, CEO, SoftBank Group Corp.

MUMBAI : Japan’s SoftBank Group Corp. will sell shares worth $154 million ( 1,250 crore) in Delhivery in a block deal on Friday, a term sheet for the transaction showed. The investment firm will continue to hold 10-11% in the new-age logistics firm after the sale.

SVF Doorbell (Cayman) Ltd, an entity owned by Masayoshi Son-led SoftBank, will sell 31 million shares at 403.5-413.85 each, a discount of not more than 2.5% to Thursday’s closing. Kotak Securities Ltd will manage the transaction.

SoftBank is looking to take some money off the table after selling a small stake in the initial public offering (IPO) of the Gurugram-based company in 2022. Later, in March this year, it sold a 3.8% stake for 954 crore.

Once the block sale is concluded, SoftBank would have pulled out around $310 million from Delhivery, against $380 million it has invested in the company. It owned around 22% stake in the company in 2018; as on September 2023, SVF held a 14.46% stake in Delhivery.

On 16 November, Delhivery shares closed at 424.35 on BSE, against its IPO price of 487. At the current price, it has a market capitalization of 30,436 crore.

Its operating revenues grew 10.55% to 1,929.8 crore in the June quarter, from 1,745.7 crore a year earlier.

SoftBank has been selling stakes in the publicly held companies from its portfolio such as Zomato, Paytm and Delhivery. Last month, it mopped up 1,020 crore from a 1.1% stake sale in Zomato.

In an interview with Mint in August, Sumer Juneja, managing partner, SoftBank said the late-stage tech investor has pulled out over $5.5 billion in exits out of its India portfolio since opening office in Mumbai in November 2018, of which around $1.5 billion was booked in the last 12-18 months.


Milestone Alert!
Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 17 Nov 2023, 12:02 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App