Softbank To Sell Stake Worth $150 Mn In Delhivery

Softbank, led by Masayoshi Son, is planning to sell a stake in leading logistics service provider Delhivery for around USD 150 million, according to multiple media reports.

"Softbank is looking to sell around 4 per cent of its stake in Delhivery in a block deal. The deal is worth around USD 150 million," the report quoted source.

Two other people confirmed the block deal plans and added that Kotak Mahindra Capital was the proposed transaction's advisor.

Softbank, Delhivery and Kotak Mahindra Capital could not be reached for comment immediately.

In the last six months, the Delhivery stock has increased by nearly 15 per cent. SVF Doorbell (Cayman), a subsidiary of Softbank, currently owns 14.46 per cent of Delhivery.

Moneycontrol reported in October that Softbank had sold a portion of its stake in Zomato for around Rs 1,000 crore. Softbank had previously sold shares in Zomato worth Rs 940 crore in a block deal in August. Later that month, it sold a 2.54 per cent stake in Policybazaar's parent company PB Fintech for Rs 876 crore.

Block transactions have been active in 2023. According to Prime Database data, between January and August, PE and venture capital firms exited investments worth Rs 57,338 crore through block deals, compared to Rs 41,051 crore during the same period last year.