Softbank plans to sell shares worth Rs 600 cr in Delhivery via block deal on Wednesday: Report
Mumbai: Japan’s Softbank Group is planning to offload approximately Rs 600 crore worth of shares in Delhivery through block deals on Wednesday, media reports said.
Softbank may sell more shares if it receives a good response, ET reported.
Citigroup has been selected as the broker for the sale of shares, which are expected to be offered at a 3-5% markdown from the current market price.
Softbank, through its entity Svf Doorbell (Cayman) Ltd, holds the largest public stake in the logistics company, with an 18.42% stake as of the end of December.
Before Delhivery's initial public offering, Softbank had acquired over 22% of the company.
Delhivery provides end-to-end solutions across the value chain and is one of the largest logistics companies in India.