SoftBank sold 2.8Cr Delhivery shares worth INR 954.2Cr in multiple block deals on the open market

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Japanese tech conglomerate SoftBank sold 2.8 crore Delhivery shares worth INR 954.2 crore in multiple block deals on the open market on Wednesday (March 1).

SoftBank sold a 2.84% stake in the logistics startups to SVF Doorbell (Cayman) Ltd, its investment arm. SoftBank’s SVF Doorbell (Cayman) Ltd held a total stake of 18.42%, or 13.4 Cr shares, in Delhivery as of December 2022. It was the company’s largest shareholder. SoftBank was reported to be selling a stake in Delhivery worth approximately INR 600 crore in block deals yesterday. For the VC behemoth, which is already struggling with its portfolio of Indian companies – both listed and unlisted ones – the stake sale at Delhivery looks like a prompt and timely act, given that shares of Delhivery have surged over 14% over the last one month.

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SoftBank sold 2.8Cr Delhivery shares worth INR 954.2Cr in multiple block deals on the open market

Japanese tech conglomerate SoftBank sold 2.8 crore Delhivery shares worth INR 954.2 crore in multiple block deals on the open market on Wednesday (March 1).

SoftBank sold a 2.84% stake in the logistics startups to SVF Doorbell (Cayman) Ltd, its investment arm. SoftBank’s SVF Doorbell (Cayman) Ltd held a total stake of 18.42%, or 13.4 Cr shares, in Delhivery as of December 2022. It was the company’s largest shareholder. SoftBank was reported to be selling a stake in Delhivery worth approximately INR 600 crore in block deals yesterday. For the VC behemoth, which is already struggling with its portfolio of Indian companies – both listed and unlisted ones – the stake sale at Delhivery looks like a prompt and timely act, given that shares of Delhivery have surged over 14% over the last one month.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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