Delhivery IPO: Under the IPO of the supply chain company Delhivery, the co-founders will reduce their stake.
Delhivery IPO: Supply chain company Delhivery has got approval from market regulator SEBI to raise Rs 7460 crore through IPO. According to the draft Red Herring Prospectus (DRHP) filed with SEBI, new equity shares worth Rs 5 thousand crore will be issued under this IPO. Apart from this, the existing shareholders of the company will sell shares worth Rs 2460 crore through Offer for Sale (OFS). Through this IPO, apart from Carlyle Group and Soft Bank, the co-founders of Delhivery will reduce their stake in the company. The company had applied for IPO to SEBI in November 2021 last year.
Delhivery IPO Details
- According to the DRHP filed with SEBI, under the IPO of Rs 7460 crore, the company will issue new equity shares of Rs 5 thousand crore.
- Through the IPO, the existing shareholders of the company will sell shares worth Rs 2460 crore through Offer for Sale (OFS). CA SWIFT Investments, a unit of Carlyle Group, will sell shares worth Rs 920 crore, SVAP Doorbell (Cayman), a part of Soft Bank Group, under OFS for Rs 750 crore. Apart from this, 100 percent subsidiary of China Momentum Fund, Daily CMF Private Limited will sell shares worth Rs 400 crore and Times Internet Rs 330 crore.
- The company’s co-founders Kapil Bharti will sell shares worth Rs 14 crore, Mohit Tandon Rs 40 crore and Suraj Saharan Rs 6 crore under OFS. Bharti holds 1.11 per cent stake in the company, Tandon holds 1.88 per cent and Saharan holds 1.79 per cent. SoftBank holds the highest stake of 22.78 percent.
- Kotak Mahindra Capital Company, BofA Securities India, Morgan Stanley India Company and Citigroup Global Markets India are the book running lead managers of the issue.
- The proceeds from the issue of new shares will be used by the Company for general corporate purposes, in addition to funding organic and inorganic growth and other strategic initiatives.
Details about the company
- Delhivery, an e-commerce logistics company, has a nationwide network and as of June 30, 2021, it provides services to 17045 pin code addresses in the country, according to the data available.
- It provides supply chain solutions to 21342 active customers of various sectors i.e. delivery of their goods. This includes e-commerce marketplaces across FMCG, consumer durables, consumer electronics, lifestyle, retail, automotive and manufacturing, direct-to-consumer e-tailers and enterprises and SMEs.