Softbank, the international venture capital firm led by Japanese billionaire Masayoshi Son, is reportedly considering selling a portion of its stake in Delhivery, a prominent logistics service provider. The company aims to raise approximately $150 million through this move, sources familiar with the matter told Moneycontrol.
Softbank is reportedly considering a block deal to sell around 4 per cent of its stake in Delhivery, with the transaction's total value estimated at approximately $150 million. Two additional informants confirmed the plans for a block deal and noted that Kotak Mahindra Capital is acting as the advisor for this intended transaction. The disclosure came from insiders who spoke to Moneycontrol under the condition of anonymity.
As a key player in India's logistics landscape, Delhivery provides end-to-end solutions across the entire value chain. During the early trading session on Friday, the shares of the company were trading in the negative territory at Rs 403.45 price level, down by more than 2 per cent or 10 points on the National Stock Exchange.
SoftBank's current ownership in the logistics firm stands at over 14 per cent through its subsidiary SvF Doorbell (Cayman). The group previously sold a 3.8 per cent stake in March, totaling Rs 954 crore.
The Japanese conglomerate had divested 2,80,00,000 shares of the logistics company at Rs 340.80 each through a bulk deal as per information available on exchanges.
Investors like the Saudi Arabian Monetary Authority, City of New York Group Trust, Societe Generale, BNP Paribas Arbitrage, Morgan Stanley Mauritius, Baillie Gifford Emerging Markets Equities Fund, and more were involved in the earlier bulk deal transaction.