SoftBank likely to sell stake worth $150 million in India’s Delhivery – Moneycontrol

(Corrects paragraph 4 to say stake sale happened in “March”, not “May”)

BENGALURU (Reuters) -SoftBank is likely to sell a stake worth $150 million in Indian logistics firm Delhivery, 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)