SoftBank, the Japanese conglomerate, sold a nearly 2.5 per cent stake in integrated logistics provider Delhivery for Rs 739 crore through an open market transaction.

Bulk deal data available with the NSE showed that Softbank through its affiliate SVF Doorbell (Cayman) Ltd offloaded 1,83,05,480 shares. These shares were hawked at an average price of Rs 403.51 per share, taking the total deal size to Rs 738.64 crore.

After the transaction, Softbank’s shareholding in Delhivery has come down to 11.96 per cent from 14.46 per cent.

Following the bulk deal, shares of Delhivery fell 3.46 per cent to close at Rs 399.55 on the NSE. Similarly, it cracked 3.51 per cent, or Rs 14.55, to end at Rs 399.80 on the BSE.

This is not the first time that SoftBank is paring its stake. In March, it had divested a 3.8 per cent stake for Rs 954 crore through open market transactions. Over the past few months, Softbank has also divested its stakes in Zomato and PB Fintech, the parent of PolicyBazaar.

During the second quarter, Delhivery reported revenue from services at Rs 1,942 crore.