Softbank Has Offloaded 3.8 Percent

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Japanese investment giant Softbank has  unloaded 3.8 percent of its stake in completely-integrated logistics service provider Delhivery for Rs 954 crore. The Japanese fund, going through a bad patch, had invested around $ 380 million (about Rs,100 crore) in Delhivery. According to data available at the Bombay Stock Exchange BSE, SoftBank vended shares worth Rs 954 crore in Delhivery in a bulk deal at Rs 340 all.  SoftBank said it lost around $5.5 billion in its  hand Vision finances alone in the October-December period, “reflecting declines in the share prices of a wide range of portfolio companies”.

The investment  mammoth had lost $ 10 billion in the former quarter (July- September 2022). Meanwhile, Delhivery provides a full suite of logistics services similar to express parcel transportation, PTL freight, TL freight, cross-border, force chain, and technology services. According to the company, it has fulfilled 1.7 billion shipments since commencement and works with over 28,000 customers including large and small e-commerce actors, SMEs, and other brands.

Delhivery reported a net loss of Rs195.7 crore against a net loss of Rs 127 crore in the time-ago quarter. Meanwhile, Delhivery provides a full suite of logistics services similar to express parcel transportation, PTL freight, TL freight, cross-border, force chain, and technology services. Softbank, which is the single largest public stakeholder in the logistics company, held 18.42 per cent stake as of December 2022, through its attachment Svf Doorbell (Cayman) Ltd. Delhivery had reported a net loss of ₹195.7 crore for quarter ended December 2022, (Q3FY23), as against a net loss of ₹ 127 crore a time  before. The company’s operating  profit fell 8.5 percent to ₹ 1,823 from ₹ 2,019 crore in the corresponding quarter of the fiscal.