SoftBank likely to sell stake worth $150 million in Delhivery

HomeStock MarketSoftBank likely to sell stake worth $150 million in Delhivery

Published on

November 17, 2023

SoftBank, a multinational investment firm, plans to sell a 4% stake valued at $150 million in the Indian logistics company Delhivery through a block deal, stake down to 10.3%
Previous stake sales by SoftBank include a 3.8% sell-off in March for ₹954 crore at ₹340 per share, and Tiger Global selling 1.2 crore shares at ₹335 apiece before SoftBank’s transaction.
SoftBank faced a significant $5.2 billion loss in the September quarter, mainly due to the WeWork bankruptcy, in contrast to a 3.0 trillion profit reported a year earlier from selling a portion of its Alibaba stake.

SourceMint