Delhivery stock falls as 2.5% stake changes hands in Rs 747-crore deal; Softbank likely seller

On November 16, the stock, which has gained over 13 percent in the past year, closed in the green at Rs 411.36 before the news was reported.

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Around 1.8 crore shares or 2.51 percent of equity  in Delhivery changed hands on November 17 with the deal valued at Rs 747 crore at Rs 403 per share. Stock fell to near the level of the deal price.

Delhivery shares were trading down 2.6% at Rs 403 in afternoon trade on November 17.

Earlier, Moneycontrol had reported that Japanese Lender Softbank is looking to sell its stake in the logistics firm in a deal valued at $150 million.

Also read: Delhivery may fall as SoftBank looks to sell $150-million stake

As of September 2023, SVF Doorbell (Caymen), which is owned by Softbank, held around 14.46 percent stake in Delhivery. The block deal was to be facilitated by Kotak Mahindra Capital.

Delhivery, an integrated logistics player offering services such as express parcel and warehousing and data intelligence was listed in 2022. In 2019, Softbank invested about $390 million (in two tranches) in Delhivery. In March 2023, Softbank had offloaded around 3.8 percent of its stake in Delhivery for Rs 954 crore. At that time, 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 buyers of the sold shares.

Over the last few months, Softbank has been divested its stake, across various investments including food aggregator Zomato and Policybazaar parent PB Fintech.

On November 16, the stock, which has gained over 13 percent in the past year, closed in the green at Rs 411.36 before the news was reported. At open on November 17, the stocks for the logistics player fell by around 2.68 percent and were trading at Rs 402.75.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.