Delhivery IPO: Supply chain company Delhivery has fixed the price band for its IPO at Rs 462-487 per share. Subscription for this IPO of Rs 5,235 crore will open on May 11.
Supply chain company Delhi is coming up with its IPO of Rs 5,235 crore. Delhivery IPO will open for subscription on May 11. For this, the company has fixed a price band of Rs 462-487 per share.
The company said that the subscription for the three-day IPO will run from May 11 to May 13. It will open for anchor investors on May 10. The company has reduced the size of its IPO to Rs 5,235 crore from the earlier Rs 7,460 crore.
Equity of Rs 4,000 crore to be issued
Equity shares worth Rs 4,000 crore will be issued in this public issue and Rs 1,235 crore will be offered for sale (OFS) by existing shareholders.
Under the OFS, investors will sell their stake in the logistics company co-founded by Delhivery, along with Carlyle Group and SoftBank.
CA Swift Investments, a unit of Carlyle Group, will sell shares worth Rs 454 crore while SVF Doorbell (Cayman) Ltd, a unit of SoftBank Group, will sell shares worth Rs 365 crore.
Daily CMF Pte Ltd, a wholly owned subsidiary of private equity fund China Momentum Fund, L.P. Will sell shares worth Rs 200 crore and Times Internet will sell shares worth Rs 165 crore.
In addition, Delhivery’s co-founders – Kapil Bharti, Mohit Tandon and Sooraj Saharan – will sell shares worth Rs 5 crore, Rs 40 crore and Rs 6 crore respectively.
What is the purpose of IPO
The funds from this public issue (Delhivery IPO) will be used for the general corporate objectives of the company’s growth through organic growth, acquisitions and other strategic initiatives.
About 75 percent of the Delhivery IPO has been reserved for qualified institutional investors, 15 percent for non-institutional investors and the remaining 10 percent for retail investors.
Investors can bid for a minimum of 30 equity shares or multiples thereof.
What does the company do
Delhi, an e-commerce logistics company, operates a pan-India network and provides services in 17,045 postal index numbers (PIN) codes.