Delhivery shares: SoftBank sells 3.85% for Rs 954cr

Key development: stake sale in Delhivery

SoftBank has sold a 3.85% stake in Gurgaon-based logistics firm Delhivery through bulk deals. The sale involved about 2.8 crore shares, with the deal value reported at Rs 954 crore. The transaction adds to a recent run of secondary stake sales in Delhivery by large foreign investors.

Delhivery listed through an initial public offering in May last year. The issue price in the IPO was Rs 487 per share. Since listing, the stock has seen regular scrutiny around shareholder churn and the pace at which early backers reduce exposure.

SoftBank bulk deal: price and size

The shares were sold at Rs 340.80 apiece, as per the bulk-deal disclosure cited in the provided information. The sale size is described as 3.85% of the company, translating to 2.8 crore shares. The reported deal value was Rs 954 crore.

SoftBank’s stake was held through Svf Doorbell (Cayman) Ltd. As of the end of December, SoftBank held an 18.42% stake in Delhivery, making it the single largest public shareholder at that time. The information also notes SoftBank had acquired more than 22% of Delhivery prior to the IPO.

Delhivery stock movement on the sale day

On the day of the SoftBank bulk deal, Delhivery shares ended 1.23% higher at Rs 348.40. This closing price was above the bulk deal selling price of Rs 340.80, based on the details provided.

The stock price action matters because large blocks can pressure short-term sentiment. But the close in the green indicates the market absorbed the supply on that session.

Tiger Global’s repeated stake reduction in Delhivery

Alongside SoftBank’s sale, the material includes multiple disclosures about Tiger Global Management reducing its position in Delhivery through both open market transactions and bulk deals.

One disclosure states Tiger Global sold 1.7% stake in Delhivery through the open market for Rs 414 crore. Another states Tiger Global Management on Tuesday offloaded shares worth Rs 388 crore via an open market transaction, through its fund Internet Fund III Pte.

Separately, Tiger Global, through its affiliate Internet Fund III Pte, sold 1,17,53,735 shares on the BSE at Rs 330 a piece. The transaction value was reported as Rs 387.87 crore, and the stake sold was described as 1.6%.

How Tiger Global’s holding changed over time

As of December-end, Tiger Global through its venture capital firm held 4.68% stake in Delhivery. The information further indicates a series of reductions: a 1.7% sale in February, a 0.75% stake sale in March, and then the 1.6% bulk deal of more than 1.17 crore shares.

One section of the material suggests Tiger Global’s holding came down to a marginal 0.68% after the three transactions. Another passage estimates that it likely fell to about 0.63%. The data provided also notes that at the time of the IPO, Internet Fund III had a 5.23% stake.

Buyers not disclosed in bulk deals

Across the Tiger Global bulk transactions described, the buyer side is not identified in the exchange disclosures referenced. The text explicitly notes that it is unclear who bought the shares, and that buyer details could not be ascertained.

This is common in exchange-reported bulk deals where only aggregate transaction disclosures are available, and counterparties are not always visible through public summaries.

Snapshot table: disclosed stake sales and prices

Why these sales are being watched

The material links Tiger Global’s sales to a broader pattern of investors offloading shares in Indian tech companies over concerns about profitability and losses. While the disclosures do not assign a specific reason for each individual transaction, the repeated selldowns are relevant for market participants because they can create an overhang when large shareholders are expected to keep selling.

One passage notes that after the series of Tiger transactions, the reduced holding “to an extent removes the overhang of any further selling” by the foreign firm. That comment reflects how investors often track the residual stake of early backers to gauge future supply risk.

Delhivery business context

Delhivery is described as among the largest logistics players in India, offering full-stack solutions across the value chain. The company’s services listed in the material include express parcel and heavy goods, PTL freight, TL freight, warehousing, supply chain solutions, cross-border express, freight services, and supply chain software.

What to track next

The disclosed deals provide clear reference points for recent secondary selling levels, including Rs 340.80 for SoftBank’s bulk deal and Rs 330 for a Tiger Global bulk transaction. Investors will also track changes in public shareholding patterns and whether further block trades emerge, especially after the quarter-end mentioned in the material for FY2022-23.