Started in 2011 and listed in 2022, Delhivery is an integrated logistics player offering services such as express parcel, warehousing and data intelligence, amongst others.
Shares of Delhivery fell nearly 3 percent at open on November 17 on reports that Japanese investor SoftBank looking to pare stake in the logistics firm.
Sources had told Moneycontrol on November 16 that SoftBank was planning to sell a stake worth $150 million, which is around 4 percent of its holding, through a block deal. As of September 2023, SVF Doorbell (Caymen), which is owned by Softbank, held around 14.46 percent stake in the firm.
At 9:20 am on November 17, it was reported that a large trade of 1.8 crore shares or 2.51 percent equity had taken place with around Rs 747 crore changing hands At Rs 403 per share.
Delhivery hasn’t commented on the plan. On November 16, the stock, which has gained over 13 percent in the past year, closed in the green at Rs 411.36 before the news was reported.
Also read: Delhivery Q2 results: Net loss more than halves to Rs 103 crore, revenue up 8%
In the September quarter, Delhivery narrowed losses to Rs 103 crore from Rs 254 crore in the year-ago quarter Revenue grew 8 percent to Rs 1,941.7 crore.
Follow our market blog for live updates
Launched in 2011 and listed in 2022, Delhivery is an integrated logistics player offering services such as express parcel and warehousing and data intelligence.
If the stake sale goes through, it will be the latest in a series of stake sales by the Tokyo-based investment major.
In October, Moneycontrol reported that SoftBank had sold a part stake in food aggregator Zomato for around Rs 1,000 crore. It also sold a 2.54 percent stake in Policybazaar parent PB Fintech for Rs 876 crore in the same month.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Delhivery falls 3% as 2.5% stake changes hands; Softbank likely seller - Moneycontrol
Read More
No comments:
Post a Comment