Corrected: SoftBank likely to sell stake worth $150 mln in India's Delhivery - Moneycontrol

Delhivery

16/11/2023 14:15

(Corrects paragraph 4 to say stake sale happened in "March",
not "May")
       BENGALURU, Nov 16 (Reuters) - SoftBank  9984.T  is
likely to sell a stake worth $150 million in Indian logistics
firm Delhivery  DELH.NS , Moneycontrol reported on Thursday,
citing sources.
    The Japanese conglomerate may sell the shares, which equates
to a roughly 4% stake in Delhivery, via a block deal,
Moneycontrol said in a social media post on X, formerly known as
Twitter. It did not give any indicative price range.
    SoftBank and Delhivery did not immediately respond to a
Reuters request for comment.
    SoftBank, through its subsidiary Svf Doorbell (Cayman), held
a 14.5% stake in the logistics firm as of Sept. 30, exchange
data showed, after it offloaded 3.8% of its stake in March. 
    Kotak Mahindra Capital is the advisor on the block deal,
Moneycontrol's post said.
    Delhivery's shares closed 0.6% higher at 413.85 rupees on
Thursday.

 (Reporting by Hritam Mukherjee in Bengaluru; Editing by Savio
D'Souza)
 ((Hritam.Mukherjee@thomsonreuters.com; X: @MukherjeeHritam;))