Live
- Chhath Puja Essentials 2024: A Complete Guide to Worship the Sun God
- Chhath Puja 2024 Fasting Guide: Essential Dos and Don’ts for a Safe and Meaningful Fast
- Xiaomi India President Muralikrishnan moves on, COO Mathur to guide key functions
- Chhath Puja 2024: Nahay Khay Date, Rituals, and Important Guidelines
- Rajasthan signs 2 MoUs in hospitality sector with Saudi Arabia-based firms
- Blow for BJP as Gavit quits to contest as Independent from Akkalkuwa
- EC approves Sanjay Kumar Verma’s appointment as new Maharashtra DGP
- Weather update: Light to Moderate Rain Predicted Across AP for next three days
- We can stay on top of KL Rahul for the majority of the summer: Boland
- 'Don't want to contest any more elections': Sharad Pawar says he wants to hang up boots
SoftBank reportedly selling stake worth $150 mn in logistics firm Delhivery
Japanese investment giant SoftBank is going to sell its stake worth $150 million in logistics firm Delhivery, media reported on Thursday.
New Delhi: Japanese investment giant SoftBank is going to sell its stake worth $150 million in logistics firm Delhivery, media reported on Thursday.
According to Moneycontrol, citing sources, SoftBank is likely to sell the shares which equates to a around 4 per cent stake in Delhivery, via a block deal.
SoftBank and Delhivery did not immediately comment on the report.
SoftBank, via its subsidiary Svf Doorbell (Cayman), has a 14.6 per cent stake in the logistics firm.
"Softbank is looking to sell around 4 percent stake in Delhivery via the block deal route. The deal size is around $150 million," the report said, citing sources.
Logistics services provider Delhivery's net loss in the September quarter (Q3) of the current financial year was more than halved to Rs 103 crore, while revenue increased by 8 per cent to Rs 1,942 crore, despite higher inflation and fund crunch.
The company reported a loss of Rs 254 crore and revenue of Rs 1,796 crore in the same quarter of the previous year.
Last month, nearly 9.28 crore equity shares of online food delivery platform Zomato worth Rs 1,040 crore were offloaded on Friday in a bulk deal, likely by SoftBank. SoftBank, via its affiliate SVF Growth (Singapore) Pte, likely sold 1.09 per cent stake in Zomato in the bulk deal. Shares exchanged hands at an average price of Rs 111.20. SoftBank held a 2.17 per cent stake in Zomato (by September 2023 quarter).
