Recently, SoftBank Group Corp. confirmed that the company is contemplating selling its share in Delhivery, a new-age logistics firm. Yes, it is almost to happen very soon when SoftBank Group Corp. will release its shares in Delhivery worth $154 million or Rs 1250 crore through a block deal on Friday, November 17, 2023, i.e. today. This information was shared and affirmed by a term sheet for the transaction. According to the term sheet, Japan’s SoftBank will release its shares worth a whopping $154 million in a block deal in Delhivery. What percent of shares will SoftBank Group Corp. hold after this deal? This question has been swirling in people’s minds. Let’s delve deep into the details and unfold more details about it.
As per the reports, Japan’s investment firm will still hold 10 to 11 percent shares in Delhivery even after releasing the shares worth $154 million or Rs 1250 crore. Reportedly, an entity owned by SoftBank Group Corp. led by Masayoshi Son, SVF Doorbell (Cayman) Ltd will release its shares from the new-age logistics firm Delhivery, which are at the price of Rs 403.5 to Rs 413.85 each. Kindly note that the price of a share of SVF Doorbell Ltd in Delhivery is cited after a discount of nearly 2.5 percent as of closing on Thursday, November 16, 2023. Swipe down the page and read more details.
The transaction of selling shares worth $154 million reportedly will be managed by Kotak Securities Ltd. SoftBank Group Corp. is contemplating taking an amount off the table by selling a small share in the IPO of the company based in Gurugram last year. This year in the month of March, Japan’s investment firm reportedly sold its 3.8 percent stake for Rs 954 crore. It is said that following the conclusion of this transaction worth $154 million, SoftBank Group Corp. would have pulled out around $310 million against the $380 million it invested in Delhivery.
In 2018, Japan’s SoftBank Group Corp. bought around 22 percent stake in Delhivery. For now, the company holds only a 14.46 percent stake in Delhivery through SVF. SoftBank has been selling stakes in publicly held companies from its portfolio such as Paytm, Zomato, and Delhivery. It swept Rs 1,020 crore from a 1.1 percent stake sale in Zomato last month. The managing partner of SoftBank, Sumer Juneja said the late-stage tech investor has pulled out over $5.5 billion in exits out of its India portfolio of which around $1.5 billion was booked in the past 12-18 months since opening office in Mumbai in November 2018.