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SoftBank sells 2.8 cr shares worth Rs 954 cr in block deal Delhivery
Image Credit: Pixabay

SoftBank sells 2.8 cr shares worth Rs 954 cr in block deal

India Blooms News Service | @indiablooms | 01 Mar 2023, 09:21 pm

Mumbai/IBNS: SoftBank sold 2.8 crore shares worth Rs 954 crore on Wednesday in the Gurgaon-based logistics firm Delhivery through bulk deals. The sale represents 3.85% of the company's total shares, and the shares were sold at Rs 340.80 each.

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.

New York-based investment firm Tiger Global raised Rs 414 crore on February 22 by selling 1.23 crore shares of Delhivery. As of December 31, 2022, Tiger Global had a stake of 4.68% in the company.

Delhivery provides end-to-end solutions across the value chain and is one of the largest logistics companies in India.