Why Delhivery shares declined over 4% today— Explained

livemint.com:

Delhivery Share Price Today: Shares of logistics firm Delhivery declined more than 3 per cent on Wednesday, November 22, after the company exchanged hands in a block deal worth ₹128.9 crore. According to CNBC-TV18, around 33 lakh shares of Delhivery were exchanged at an average price of ₹384.75 per equity share, as part of the block deal today. This comes few days after Masayoshi Son-led Japanese tech giant Softbank sold 1.83 shares of the logistic firm through its subsidiary SVF Doorbell (Cayman) at an average price of ₹403.51 per equity share, in a fresh bulk deal, showed NSE data on November 17.

With the transaction by Softbank, the total bulk deal amount came around ₹739 crore, taking into account the quantity traded and the average price, as per NSE. SVF Doorbell (Cayman) Ltd sold 1,83,05,480 shares of Delhivery at an average price of ₹403.51 per share, which leads to the total deal amount at ₹7386444234.8 or ₹739 crore. (1,83,05,480 × 403.51 = 7386444234.8).

Also Read: Softbank sells 1.83 crore shares of Delhivery in ₹739-crore bulk deal: NSE Data SoftBank held a 14.5 per cent stake in the logistics firm, through SVF Doorbell (Cayman) as of September 30, exchange data showed, after it offloaded 3.8 per cent of its stake in March. SoftBank had invested a total of $380 million in the Indian logistics firm. The bulk deal worth ₹954 crore in Delhivery took place at ₹340 apiece.