SBI Mutual Fund has further reduced its exposure to listed logistics firm Delhivery, selling 18.18 lakh equity shares in an open market transaction on December 22, according to disclosures made under SEBI’s Substantial Acquisition of Shares and Takeovers (SAST) regulations.
Following the transaction, the fund house’s stake in Delhivery declined from 5.93% to 5.69%, marking a 0.24 percentage point reduction in its shareholding. Based on Delhivery’s closing price of ₹409.20 on the BSE on the day of the sale, the transaction is estimated to be valued at approximately ₹74.45 crore.
After the sale, SBI Mutual Fund holds nearly 4.25 crore shares, representing 5.69% of Delhivery’s paid-up equity capital.
Gradual Stake Reduction Continues
SBI Mutual Fund holds Delhivery shares across multiple schemes and has been gradually trimming its stake over the past two years. The fund had earlier disclosed a significantly higher 7.91% stake in April 2023, indicating a steady reduction since then.
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, highlighting continued portfolio rebalancing by the asset manager.
Stock Performance and Financial Snapshot
Delhivery’s shares closed at ₹409.20 on December 22 and declined 1.2% in the following session to settle at ₹406.85. Despite the recent weakness, the stock remains up around 18% on a year-to-date basis.
On the financial front, Delhivery reported a weaker Q2 FY26 performance, posting a net loss of ₹50.5 crore, compared with a profit of ₹10.2 crore in the same quarter last year. Revenue from operations grew 17% year-on-year to ₹2,559.3 crore, but profitability was impacted by costs linked to the integration of Ecom Express.
For the first half of FY26, the company’s profit declined 37% to ₹40.5 crore, reflecting near term margin pressures amid integration-related expenses.
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