Japanese conglomerate Softbank’s arm SVF Doorbell (Cayman) on Wednesday divested 3.8 per cent of its stake in supply chain company Delhivery for Rs 954 crore through open market transactions.
Saudi Arabian Monetary Authority, City of New York Group Trust, Societe Generale, BNP Paribas Arbitrage, Morgan Stanley Mauritius, Baillie Gifford Emerging Markets Equities Fund were among the buyers of shares.
According to the block deal data available with the BSE, SVF Doorbell (Cayman) offloaded 2.80 crore shares in eight transactions, amounting to 3.8 per cent stake in the firm. The shares were sold at an average price of Rs 340.8 each share, taking the aggregate value to Rs 954.24 crore.
After the latest transaction, the equity shareholding of SVF Doorbell (Cayman) has reduced to 14.58 per cent from 18.42 per cent stake in the company. On Wednesday, shares of Delhivery closed 1.23 per cent higher at Rs 348.40 per piece on the BSE.
The SoftBank group has sunk into a deep loss for the October-December quarter, slammed by the global plunge in technology shares. SoftBank Group Corp racked up a 783 billion yen ($5.9 billion) loss for the fiscal third quarter, a reversal from the 29 billion yen profit recorded in the same period a year ago.
SoftBank invests in hundreds of companies, including mobile carrier SoftBank, web service provider Yahoo, vehicle-for-hire company Didi and Chinese e-commerce giant Alibaba. It also runs the Vision Fund. The group recorded nearly 512 billion yen ($3.9 billion) in losses on investments during the quarter, as prices of its shareholdings and funds nose-dived, it said.