The initial public offering (IPO) of supply chain company Delhivery will open on Wednesday, May 11, 2022, and close on May 13. Before heading into the IPO, the bidding for anchor investors will open on Tuesday, May 10, 2022. The firm will list on exchanges on May 24.
Earlier, the company had reduced its total issue size to Rs 5,235 crore from the Rs 7,460 crore planned. The firm will now raise Rs 4,000 crore via the fresh issue and Rs 1,235 crore through an offer for sale (OFS).
Delhivery co-founders Kapil Bharati, Mohit Tandon, Y Suraj Saharan, and Mohit Tandon will participate in the OFS. Also, CA Swift Investments, SVF Doorbell (Cayman) Ltd, Deli CMF Pte Ltd, and Times Internet will divest their shareholding in the logistics company.
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Proceeds of the fresh issue will be used towards funding organic growth initiatives, funding inorganic growth through acquisitions and other strategic initiatives and for general corporate purposes.
Kotak Mahindra Capital, Morgan Stanley India, Bofa Securities India, and Citigroup Global Markets are leading the IPO.
The e-commerce logistics company operates a pan-India network and provides services in 17,045 postal index number (PIN) codes, as of June 30, 2021.
It provides supply chain solutions to a diverse base of 21,342 active customers such as e-commerce marketplaces, direct-to-consumer e-tailers and enterprises and SMEs across several verticals such as FMCG, consumer durables, consumer electronics, lifestyle, retail, automotive and manufacturing, in the three months ended June 30, 2021.
(Edited by : Jomy Jos Pullokaran)
First Published: May 4, 2022 6:47 PM IST
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