In a fresh block deal, Softbank plans to sell a $150 million stake in Delhivery

Block deals have been rather active in 2023. Data from Prime Database shows that between January and August of this year, PE and venture capital firms exited investments worth Rs 57,338 crore through block deals, up from Rs 41,051 crore in the same time the previous year.

Currently, 14.46 percent of Delhivery is owned by Softbank company SVF Doorbell (Cayman) Ltd.

The largest logistics service provider Delhivery is set to be partially sold by Masayoshi Son-led Softbank, a Japanese tech giant, for an estimated $150 million, according to many industry insiders who spoke with Moneycontrol.

The story was originally reported by Moneycontrol on November 16.

By way of a block sale, Softbank hopes to sell about 4% of its Delhivery investment. The estimated value of the deal is $150 million,” stated one of those mentioned people.

The block deal plans were verified by two more people, who also mentioned that Kotak Mahindra Capital served as the transaction’s advisor.

On the condition of anonymity, the three individuals mentioned above spoke with Moneycontrol.

We were unable to get in touch with Softbank, Delhivery, or Kotak Mahindra Capital right away for comments.

The last half-year has seen an approximately 15% increase in the Delhivery stock. Currently, 14.46 percent of Delhivery is owned by Softbank company SVF Doorbell (Cayman) Ltd.

Moneycontrol revealed in October that Softbank has sold a portion of its Zomato investment for about Rs 1,000 crore. In August, Softbank completed a block deal to sell shares in Zomato valued Rs 940 crore. It sold a 2.54% share for Rs 876 crore in Policybazaar’s parent company, PB Fintech, later in October.

There have been a lot of block deals in 2023. Data from Prime Database shows that between January and August, venture capital and PE companies sold their holdings for a total of Rs 57,338 crore through block agreements, down from Rs 41,051 crore in the same period the previous year.