Delhivery share price slips 2.5% after Softbank's ₹954 cr block deal
2 min read 02 Mar 2023, 03:07 PM ISTSoftbank-backed arm SVF Doorbell (Cayman) on Wednesday offloaded 2.8 crore equity shares at ₹340.8 apiece in Delhivery aggregating to ₹954.24 crore, as per the BSE's block deal data. This would come around a stake sale of 3.8% in the company by Softbank's subsidiary.
PremiumGurugram-based logistics and supply chain, Delhivery traded in the red on Thursday after Softbank offloaded equity shares worth ₹954 crore through a block deal. Currently, on BSE, Delhivery's stock is trading near the day's low. Overall, during the day so far, the stock witnessed a more than 3% drop on the exchange.
At the time of writing, Delhivery traded at ₹339.80 apiece down by ₹8.60 or 2.47% on BSE. This would be near the day's low of ₹337.90 apiece.
Its market cap is ₹24,752.58 crore.
The stock opened slightly higher at ₹349.95 apiece and even touched an intraday high of ₹350 apiece in the early deals before correcting into a bearish tone.
On the previous day, Delhivery closed at ₹348.40 apiece.
Softbank-backed arm SVF Doorbell (Cayman) on Wednesday offloaded 2.8 crore equity shares at ₹340.8 apiece in Delhivery aggregating to ₹954.24 crore, as per the BSE's block deal data. This would come around a stake sale of 3.8% in the company by Softbank's subsidiary.
As of December 31, 2022, SVF Doorbell's stake in Delhivery was around 13.41 crore equity shares or 18.42%. It would be the largest public shareholder in the company.
However, after the 3.8% stake sale in the block deal, SVF Doorbell's shareholding in Delhivery has reduced to 14.58%.
While Softbank sold a portion of its shares, there were many buyers of Delhivery on BSE.
Some of the major buying in Delhivery are --- France-based Societe Generale purchasing 24 lakh shares for ₹81.79 crore; Saudi Arabian Monetary Authority bought 2,137,661 equity shares for over ₹72.85 crore; Invesco Asian Equity Fund bought 2,747,905 equity shares for nearly ₹93.65 crore; Best Investment Corporation bought 1,637,765 equity shares for nearly ₹55.82 crore; Invesco Pereptual Far Eastern Investment Series bought 3,494,288 equity shares for nearly ₹119.1 crore; City of New York Group Trust bought 1,708,978 equity shares for ₹58.24 crore; Baillie Gifford Emerging Market Equities Fund bought 2,409,370 equity shares for ₹82.11 crore; and Fidelity Funds - India Focus Fund bought 2,307,878 equity shares for ₹78.65 crore.
Other investors who picked a stake in Delhivery were ---- Amazon Market Neutral Fund, Virginia Retirement System, State of Indiana Public Employees Retirement Fund, Opseu Pension Plan Trust Fund, Morgan Stanley Mauritius Company, BNP Paribas Arbitrage, and Bureau of Labour Funds - Labor Pension Fund among others.
During Q3FY23, the company's consolidated net loss widened to ₹195.7 crore from a loss of ₹126.5 crore in the same quarter a year ago. Total income stood at ₹1,918 crore in Q3FY23 lower than ₹2,019 crore a year ago same period.
The company is a fully-integrated logistics services provider with a nationwide network covering over 18,500 pin codes.
