“Softbank Plans $150 Million Stake Sale in Delhivery via Block Deal Strategy”


Softbank, led by Masayoshi Son, prepares to divest a 4 percent stake in logistics giant Delhivery, aiming to raise $150 million in a block deal. Discover insights into this strategic move amid the surge in block deals within the investment landscape in 2023.

"Softbank Eyes $150 Million Stake Sale in Delhivery via Block Deal"
"Softbank Eyes $150 Million Stake Sale in Delhivery via Block Deal"

As the investment landscape continues to witness an active streak of block deals in 2023, Softbank, led by Masayoshi Son, sets its sights on divesting a portion of its stake in the prominent logistics service provider, Delhivery. Industry sources familiar with the matter informed Moneycontrol that Softbank intends to raise approximately $150 million through this strategic move.

Earlier on November 16, Moneycontrol was the first to report Softbank’s plans to sell around 4 percent of its stake in Delhivery via a block deal. Multiple sources in the know revealed details surrounding this anticipated transaction, highlighting the potential significance of this move within the investment sphere.

“Softbank is looking to conduct a block deal, offloading nearly 4 percent stake in Delhivery, equating to a deal size of about $150 million,” affirmed one source with insights into the matter.

Further validating this information, two additional sources substantiated the plans for the block deal, affirming Kotak Mahindra Capital’s role as the advisor facilitating this proposed transaction. However, Softbank, Delhivery, and Kotak Mahindra Capital have yet to issue any official comments regarding these developments.

Currently, Softbank entity SVF Doorbell (Cayman) Ltd holds a significant 14.46 percent stake in Delhivery. Notably, the stock value of Delhivery has surged by nearly 15 percent over the past six months, potentially contributing to Softbank’s strategic decision to leverage this opportune moment for divestment.

This initiative by Softbank to sell a stake in Delhivery echoes previous moves within the investment landscape. In October, reports surfaced indicating Softbank’s divestment of a portion of its stake in Zomato for around Rs 1,000 crore. Additionally, earlier in August, Softbank had conducted a block deal, offloading shares worth Rs 940 crore in Zomato. Furthermore, in October, Softbank sold 2.54 percent of its stake in Policybazaar parent PB Fintech for Rs 876 crore.

The move to divest stakes in high-profile entities like Zomato, Policybazaar, and now Delhivery underlines Softbank’s strategic realignment within its investment portfolio, aligning with the dynamic shifts in the market and capitalizing on strategic opportunities. This decision also resonates against the backdrop of a substantial surge in block deals observed in 2023.

Sources By Agencies

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