SoftBank-Backed SVF Sells 2.49% Stake In Delhivery

SoftBank Group’s affiliate, SVF Doorbell (Cayman) Ltd., has sold a 2.49% stake in Delhivery Ltd. for Rs 738.6 crore.

SoftBank, a major shareholder of the company, sold 1.83 crore shares of the company at Rs 403.51 apiece, according to data from the National Stock Exchange.

SoftBank holds 14.5% stake in the company, as of Sept. 30, through its subsidiary SVF Doorbell (Cayman), according to BSE data.

SoftBank has been reducing its stake in multiple Indian startups. It sold a 1.1% stake in food aggregator Zomato Ltd. for Rs 1,040 crore last month, while it also offloaded a 2.5% stake in Policybazaar's parent firm PB Fintech Ltd. through open market transactions for Rs 871 crore.

The Japanese investment firm had also offloaded 2.01% shares in fintech unicorn Paytm, reducing its stake in the company to 9.15%.

Shares of Delhivery fell 3.5% on Friday on media reports that SoftBank may sell a stake in the company.