Softbank sells 1.83 crore shares of Delhivery for ₹739 crore through bulk deal

Masayoshi Son-led Japanese tech giant Softbank on Friday (November 17) sold 2.51% equity in e-commerce logistics company Delhivery in a bulk deal worth ₹739 crore.

Softbank entity SVF Doorbell (Cayman) Ltd currently holds a 14.46% stake in Delhivery. The block deal was to be facilitated by Kotak Mahindra Capital.

About 1.8 crore shares of Delhivery or 2.51% of the total equity worth ₹739 crore changed hands in a large trade. The transaction happened at ₹403.51 per share. The buyer in the deal is not officially known.

On November 16, Moneycontrol reported that Softbank is looking to sell its stake in Delhivery in a deal valued at $150 million.

Last month, Softbank sold a partial stake in Zomato for around ₹1,000 crore. The Japanese tech giant had also offloaded shares earlier worth ₹940 crore in Zomato through a block deal in August 2023. Later in October, it sold 2.54% stake in Policybazaar parent PB Fintech for ₹876 crore.

At 9:48 am, the Delhivery stock was trading at ₹401.80, down 2.91% on the NSE. The scrip has gained 21% since the beginning of this year.

The stock is currently at a 11% discount from its 52-week high of ₹452.40. It has a 1-year beta of -0.2, indicating very low volatility during the period, according to Trendlyne data.

The 14-day relative strength index (RSI) of the counter stands at 50.5, suggesting its neither oversold nor overbought. RSI below 30 is considered oversold and above 70 is overbought.