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.