Japanese conglomerate Softbank has sold shares worth Rs 738.64 crore in logistics company Delhivery via open market transactions on November 17.
Softbank through its entity SVF Doorbell (Cayman) has offloaded 1.83 crore equity shares, which is equivalent to 2.49 percent of paid-up equity, in Delhivery, as per the bulk deals data on the stock exchange. With the above deal, the total shareholding of SVF in the company seems to have dropped to around 12 percent, now.
These shares were sold at an average price of Rs 403.51 per share and amounted to Rs 738.64 crore.
The Delhivery stock closed below Rs 400-mark for the first time since August 3, falling 3.46 percent to Rs 399.55 on the NSE.
On November 16, Moneycontrol was the first to report about this block deal.
As of September 2023, SVF Doorbell (Cayman) held 14.46 percent equity stake stake in Delhivery.
Earlier in March this year, Softbank had sold shares around 2.8 crore equity shares in the third-party logistics services provider in a bulk deal at Rs 340 apiece, amounting to Rs 954 crore. In December 2022, the Japanese fund had held more than 18.42 percent stake in the company.