In February, Delhivery's shares saw a bulk deal, when Tiger Global sold 1.2 crore shares of the company at a price of Rs 335.
Japanese investor firm SoftBank on Wednesday sold its 3.8% stake in Gurgaon-based logistics firm Delhivery through a bulk deal. SoftBank has received Rs 954 crore from this sale. Through the bulk deal, every share of Delhivery has been sold at a price of Rs 340 per share.
Let us tell you that the Japanese investment bank had invested about $ 38 million (Rs 3,100 crore) in Delhi before the IPO. SoftBank is the largest shareholder in the logistics company. Delhi had 31.2022% stake as on December 18, 42. SoftBank had acquired over 2018% stake in the company in October 22.
Tiger Global also sold shares.
In February, Delhi's shares saw a bulk deal, when Tiger Global sold 1.2 crore shares of the company at a price of Rs 335. With these sales, SoftBank has reduced its stake in Delhiveri to around 14 per cent and in Tiger Global to 2.98 per cent.
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Although the stock has gained more than 13 per cent in the last one month, the overall sentiment in the market on new-age technical stocks still remains negative. Since the listing, Delhi's shares have fallen by more than 36 percent. Today, the company's shares closed marginally higher at Rs 346.
The Company is still in Loss
Delhivery is one of India's largest logistics companies with full-stack solutions across the value chain. The company's losses are increasing. It reported a net loss of Rs 127.195 crore against a net loss of Rs 7 crore in the year-ago quarter. Its revenue from operations declined to Rs 1,823.8 crore in the October-December period from Rs 2,019 crore in the year-ago quarter.
Delhivery has an operating loss of Rs 340 crore for the last twelve months and a market capitalization of Rs 25,000 crore. In comparison, Blue Dart's operating profit for the last 12 months is Rs 1,030 crore, while the market cap is Rs 14,700 crore. The company has reported losses for the fifth consecutive quarter.