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Selling 3.8% share in India’s Delhivery nets SoftBank $115 M

According to statistics accessible on the BSE, SoftBank has sold a 3.8% share in the unicorn of Indian logistics, Delhivery, for US $115.5 million.

According to reports, SoftBank still has the largest interest in the logistics firm, with about 13.5% ownership.

A wide range of logistics services, including quick package delivery, cross-border shipping, and B2B and B2C warehousing, are offered by Delhivery. Moreover, it provides full supply chain services.

As compared to the same quarter in FYE 2022, the company’s losses during the December quarter of FYE 2023 increased to over 54%.

It was previously stated that SoftBank was also in talks to sell a stake in Paytm. The Indian payments company, however, refuted these allegations.

With investments in a number of billion-dollar businesses including Flipkart, Oyo, Lenskart, Unacademy, and Swiggy, SoftBank is one of India’s largest unicorn minters.

SoftBank spent US $9.3 billion in the nation in 2021, but this fell to US $1.1 billion in 2022, according to reports published in the media.

 

 

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