Softbank pares 2.5 pc stake in logistics firm Delhivery worth Rs 739 crore

Japanese conglomerate Softbank on Friday divested a 2.5 per cent stake in integrated logistics provider Delhivery for Rs 739 crore through an open market transaction. In March, Softbank divested a 3.8 per cent stake in Delhivery for Rs 954 crore through open market transactions.

Japanese conglomerate Softbank on Friday divested a 2.5 per cent stake in integrated logistics provider Delhivery for Rs 739 crore through an open market transaction. According to the bulk deal data available with the NSE, Softbank through its affiliate SVF Doorbell (Cayman) Ltd sold 1,83,05,480 shares, amounting to a 2.5 per cent stake in Delhivery.

The shares were disposed of at an average price of Rs 403.51 apiece, taking the aggregate deal size to Rs 738.64 crore.

After the transaction, Softbank's shareholding in Delhivery has reduced to 11.96 per cent from 14.46 per cent.

Shares of Delhivery fell 3.46 per cent to close at Rs 399.55 apiece on the NSE. In March, Softbank divested a 3.8 per cent stake in Delhivery for Rs 954 crore through open market transactions. Over the past few months, Softbank divested its stake in online food ordering company Zomato and Policybazaar's parent firm PB Fintech.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)