SoftBank sells Delhivery shares worth ₹954 crore
1 min read 02 Mar 2023, 07:26 AM ISTThe shares were sold at an average price of ₹340.8 each share, taking the aggregate value to ₹954.24 crore
PremiumJapanese conglomerate Softbank on Wednesday divested 3.8% of its stake in supply chain company Delhivery for ₹954 crore through open market transactions. The shares were sold at an average price of ₹340.8 each share, taking the aggregate value to ₹954.24 crore.
According to the block deal data available with the BSE, SVF Doorbell (Cayman) offloaded 2.80 crore shares in eight transactions, amounting to 3.8 per cent stake in the firm.
Saudi Arabian Monetary Authority, City of New York Group Trust, Societe Generale, BNP Paribas Arbitrage, Morgan Stanley Mauritius, Baillie Gifford Emerging Markets Equities Fund were among the buyers of shares.
Softbank, which is the single largest public stakeholder in the logistics company, held 18.42 per cent stake as of December 2022, through its subsidiary Svf Doorbell (Cayman) Ltd.
Delhivery had reported a net loss of ₹195.7 crore for quarter ended December 2022, (Q3FY23), as against a net loss of ₹127 crore a year earlier. The company's operating revenue fell 8.5 percent to ₹1,823.8 crore for from ₹2,019 crore in the corresponding quarter of the past fiscal.
On Wednesday, shares of Delhivery closed 1.23 per cent higher at ₹348.40 per piece on BSE.
It touched its 52-week high of ₹708.45 on 21/07/2022, while its 52-week low of ₹291.00 on27/01/2023.
