Delhivery Fixed The Price Band Of IPO

Delhivery fixed the price band of IPO, priced at Rs 462 to 487 per share.

Supply chain company Delhivery on Thursday fixed a price band of Rs 462-487 per share for its Rs 5,235-crore initial public offering, which will open for subscription on May 11 and close on May 13.

According to the company, the bidding for anchor investors will open on May 10. Let us inform you that the size of the IPO was earlier to be Rs 7,460 crore but it has been reduced to Rs 5,235 crore.

The public issue involves the issue of fresh equity shares worth Rs 4,000 crore and offers for sale (OFS) shares of Rs 1,235 crore by existing shareholders.

Under the OFS, investors will sell their stake in the logistics company, along with Carlyle Group and SoftBank, co-founders of Delhivery.

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.

In addition, the co-founders of Delhivery- Kapil Bharti, Mohit Tandon and Sooraj Saharan, will sell shares worth Rs 5 crore, Rs 40 crore, and Rs 6 crore respectively.

The proceeds from the fresh issue will be used for inorganic growth and general corporate purposes through organic growth initiatives, acquisitions, and other strategic initiatives.

About 75 percent of the issue has been reserved for eligible institutional investors, 15 percent for non-institutional investors, and the remaining 10 percent for retail investors.

Investors can bid in a minimum of 30 equity shares and multiples thereof.

The E-commerce Logistics Company has a large network across the country and provides services in 17,045 Postal Index Number (PIN) codes.

It provides fulfillment solutions to 21,342 active customers across sectors such as e-commerce marketplaces, direct-to-consumer e-tailers, and enterprises, consumer durables, consumer electronics, lifestyle, retail, automotive, and manufacturing.