SoftBank mulls $150 Million stake sale in Delhivery through block deal

Japanese conglomerate SoftBank is reportedly considering the sale of a $150 million stake in Indian logistics firm Delhivery, according to sources cited by Moneycontrol. The potential transaction, equivalent to around 4% of Delhivery's stake, may occur through a block deal, with Kotak Mahindra Capital serving as the advisor for the proposed transaction. 

Presently, SoftBank's entity SVF Doorbell (Cayman) Ltd holds a 14.46% stake in Delhivery.

The potential divestment is viewed as a strategic move by SoftBank, aiming to reallocate resources and optimize its investment portfolio. This move follows SoftBank's recent divestments in other Indian ventures, including the partial sale of Zomato shares for approximately ₹1,000 crore in October.

In August, SoftBank had also executed a block deal, selling shares worth ₹940 crore in Zomato. Additionally, in the same month, it sold a 2.54% stake in PB Fintech, the parent company of Policybazaar, for ₹876 crore.

Delhivery, a prominent player in the Indian logistics sector, has experienced substantial growth in recent years. In the past six month, company's stock has surged nearly 15 percent.

Delhivery's shares closed 0.6% higher at ₹413.85 on Thursday.