Softbank sells 3.8% stake in Delhivery
Japanese conglomerate now holds around 14% stake in the company.
New Delhi: Softbank Group, the Japanese conglomerate, has sold a 3.8% stake in Indian logistics company Delhivery for INR 954 crore ($130 million), according to recent reports.
The stake was sold to Delhivery’s co-founder and CEO Sahil Barua and private equity firm Carlyle Group. Following the transaction, Softbank now holds around 14% stake in the company.
Delhivery is an Indian logistics company that offers a range of services, including last-mile delivery, warehousing, and supply chain management. The company was founded in 2011 and has quickly become one of India’s largest logistics providers, operating in over 2,300 cities nationwide.
Softbank initially invested in Delhivery in 2015, leading a funding round that raised $85 million. Since then, the Japanese conglomerate has been a major investor in the company, leading multiple funding rounds and helping to support Delhivery’s growth.
This latest transaction is part of Softbank’s ongoing efforts to monetize some of its holdings and raise capital for new investments. The company has been under pressure in recent years following a series of high-profile investments that have failed to deliver returns, including investments in WeWork and Uber.
Despite these challenges, Softbank has remained an active investor in India, where it has made significant investments in companies like Paytm, Oyo Rooms, and Flipkart. The company’s investments in India are part of its broader strategy to invest in technology companies worldwide that it believes will drive the next wave of innovation and growth.
For Delhivery, the transaction with Softbank represents an opportunity for the company to strengthen its financial position and continue its growth trajectory. The company has been expanding aggressively in recent years, both in terms of its geographic footprint and its service offerings. With this latest funding round, Delhivery is well-positioned to continue its growth and cement its position as a leading logistics provider in India.