Home/ Markets / Stock Markets/  Morgan Stanley, BNP Paribas buy shares in this new age stock. Details inside

Morgan Stanley Mauritius Company Ltd, BNP Paribas Arbitrage, Societe Generale have bought shares of Delhivery on Wednesday, as per the block deals data available on the BSE, on the same day SoftBank sold stake in the logistics company.

As per the data, Morgan Stanley Mauritius purchased 7,92,783 shares in the supply chain company whereas BNP Paribas Arbitrage picked up 8,00,000 equity shares and Societe Generale 24,00,000 shares - at an average price of 340.8 per share.

Japanese conglomerate Softbank on Wednesday divested 3.8% of its stake in supply chain company Delhivery for 954 crore through open market transactions. According to the block deal data available with the BSE, SVF Doorbell (Cayman) offloaded 2.80 crore shares in eight transactions. The shares were sold at an average price of 340.8 each share, taking the aggregate value to 954 crore.

Softbank, which is the single largest public stakeholder in the logistics company, held 18.42% stake as of December 2022, through its subsidiary Svf Doorbell (Cayman) Ltd.

Meanwhile, Saudi Arabian Monetary Authority, City of New York Group Trust, Baillie Gifford Emerging Markets Equities Fund were also among the buyers of Delhivery shares via block deals on Wednesday.

SoftBank's stake sale comes after last week, fund managed by Tiger Global Management Internet Fund III Pte sold 1.7% stake (1,23,63,060 shares) in Delhiver for 414 crore through an open market transaction, at an average price of 335 apiece.

Delhivery's net loss widened to 195.7 crore for the third quarter ended December 2022 (Q3 FY23) as compared to a loss of 127 crore in the yea-ago quarter. Its revenue also declined about 9% to 1,823 crore as against 2,019 crore year-on-year (YoY). 

Shares of Delhivery were trading more than 2% lower at 341 apiece on the BSE in Thursday's trading session. The new-age stock have declined more than 37% since listing in May 2022.

Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 02 Mar 2023, 11:24 AM IST
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Get alerts on WhatsApp
Set Preferences My Reads Watchlist Feedback Redeem a Gift Card Logout