Softbank Group may sell its stake in logistics and supply chain company - Delhivery which is worth Rs 600 crore via block deals, as per news report.
According to sources, the shares may be offered at a discount of 3-5 percent against the current market price. The broker for the deal will be Citigroup.
Delhivery's shares settled at Rs 344.15 at the BSE on February 28, which was 0.5 percent lower as against the previous day's close.
Through its subsidiary, Svf Doorbell (Cayman), Softbank held its stake of 18.42% in Delhivery as of December 2022. This made it the largest public shareholder in the company.
On February 10, Delhivery had reported a net loss of Rs 195.7 crore for the third quarter of FY23 (2022-23), as against a net loss of Rs 127 crore a year earlier. The company's operating revenue fell 8.5% to Rs 1,823.8 crore for from Rs 2,019 crore in the corresponding quarter of the past fiscal.
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