In bulk transactions, SoftBank sold 2.8 million shares, or 3.85% of the logistics firm Delhivery, for Rs 954 crore. As a result, SoftBank now owns 14.57% less of the business. As of December 31, 2022, SoftBank owned 18.42% of Delhivery, making it the company with the most significant public stake. Delhivery, one of the most prominent players in Indian logistics with full-stack solutions along the value chain, saw its shares finish the day on Wednesday 1.23% higher at Rs 348.40. In comparison to the same period last year, Delhivery recorded a net loss of Rs 196 crore for the December quarter. This is Delhivery’s sixth consecutive quarter of losing money.
Tiger Global Management, an American financial management company, last week sold a 1.7% stake in Delhivery on the open market for Rs 414 crore. Tiger Global owned 4.68% of Delhivery as of the end of December. In January, One97 Communications, the parent firm of Paytm, sold the remaining 3.3% stake that Alibaba Group-owned for Rs 1,378 crore on the open market. Alibaba.com Singapore E-Commerce Pvt Ltd sold a 3% stake for Rs 1,031 crore in January as well.
According to accounts from ET, One 97 Communications’ major shareholders, including SoftBank as well as China’s Ant Group, an affiliate of Alibaba, have talked about selling their shares through a secondary stock transaction. SoftBank’s holding in Delhivery has dropped to 14.57% after it sold 3.85% of the company’s shares for Rs 954 crore. One of the largest logistics companies in India, Delhivery, recorded a net loss of Rs. 196 crores for the quarter ending in December. The transaction follows Tiger Global’s last week’s sale of 1.7% of its Delhivery stake.
