SBI Mutual Fund sells 18.18 lakh Delhivery shares for about Rs 74.45 crore

SBI Mutual Fund has reduced its stake in Delhivery, selling 18.18 lakh shares of the logistics company on December 22 to bring its shareholding down to 5.69%, according to an exchange filing and disclosures under SEBI’s Substantial Acquisition of Shares and Takeovers (SAST) regulations.

The sale represents a 0.24 percentage point reduction from the fund house’s earlier holding of 5.93%. Based on Delhivery’s closing price of Rs 409.20 on the BSE on December 22, the transaction is estimated to be worth about Rs 74 crore.

Following the sale, SBI Mutual Fund now holds around 4.25 crore shares, equivalent to 5.69% of Delhivery’s paid-up equity capital.

SBI Mutual Fund holds Delhivery shares through multiple schemes and has been steadily trimming its exposure over the past two years. The fund had disclosed a 7.91% stake in April 2023. As per Delhivery’s shareholding pattern for the quarter ended September 2025, SBI Mutual Fund held a 6.41% stake through the SBI Equity Hybrid Fund.

Delhivery’s shares ended the December 22 session at Rs 409.20 and slipped 1.2% in the subsequent session to close at Rs 406.85. Despite the recent dip, the stock is up about 18% year to date.

Financially, Delhivery reported a weaker second quarter in the current financial year. In Q2 FY26, the company slipped into the red, posting a net loss of Rs 50.5 crore, compared with a profit of Rs 10.2 crore in the year-ago quarter and a profit of Rs 91.1 crore in Q1 FY26.

Revenue from operations rose 17% year on year and 12% sequentially to Rs 2,559.3 crore in the September quarter, but profitability was hit by costs related to the integration of Ecom Express. The company has indicated that it incurred about Rs 90 crore in integration-related losses during the quarter, with an additional Rs 100–110 crore expected over the remainder of the financial year.

For the first half of FY26, Delhivery’s profit declined 37% to Rs 40.5 crore, compared with Rs 64.5 crore in H1 FY25.