SoftBank's SVF Doorbell sold 14.97M Delhivery shares between February and September

SVF Doorbell (Cayman) Limited, owned by Japanese investor SoftBank, has disposed of 14,967,737 equity shares of Delhivery in a series of transactions between February 2, 2024, and September 25, 2024.

SoftBank had reported unrealised gains of Rs 2,393 crore ($285 million) from its investment in the logistics company, according to its Q1 FY24 financial results released in August.

SoftBank's Vision Fund I, through SVF Doorbell (Cayman) Ltd, held 74,947,706 equity shares representing about a 10.15% stake in Delhivery as of June 2024, according to a BSE filing.

Since its initial $315 million investment in 2019, which helped Delhivery achieve unicorn status, SoftBank has consistently seen substantial returns, including gains during Delhivery’s public listing.

Venture capital firm Nexus Ventures Partners in August sold a 1.06% stake in Delhivery for over Rs 344 crore through an open market transaction.

It sold more than 78 lakh shares in Delhivery through a bulk deal on the National Stock Exchange (NSE). The shares were disposed of at an average price of Rs 440 apiece, taking the total deal value to Rs 344.06 crore.

Delhivery swung to a profit in the first quarter of FY25, helped by higher revenue and a change in its method to calculate depreciation. The company reported a profit after tax of Rs 54 crore in Q1 FY25, compared to a loss of Rs 89 crore in Q1 FY24.

It recorded a 12.6% growth in revenue from services at Rs 2,172 crore in Q1 FY25, compared to Rs 1,930 crore in Q1 FY24. The logistics company also reported an increase in its EBITDA to Rs 97 crore in Q1 FY25 against an EBITDA loss of Rs 13 crore in Q1 FY24.