Delhivery IPO: After Life Insurance Corporation of India (LIC), a Gurugram-based logistics and e-commerce supply chain company, Delhivery is all set to attract investors in its IPO (Initial Public Offering). The company has filed DRHP (Draft Red Herring Prospectus) with the market controller SEBI. According to Moneycontrol, Delhivery’s total issue size is ₹5,235 crores and is likely to open on May 11, 2022.
Delhivery IPO Size
Just as LIC has reduced its IPO size by 3.5% keeping in view the volatility in the stock market, so has Delhivery. Earlier, the size of its IPO was ₹7,460 crore, which has been reduced to ₹5,235 crore. Of this ₹5,235 crore IPO, ₹4,000 crores will be raised via fresh issue. While the remaining amount will be raised via Offer for Sale (OFS).
Price Band (Per Equity Share)
The issue price band per equity share has not been fixed by the Gurugram-based logistics services unicorn.
Delhivery IPO GMP (Grey Market Premium) on Wednesday, May 04, 2022
According to IPOWatch, Delhivery IPO grey market premium (GMP) today is ₹35, which was ₹30 yesterday.
According to the company’s DRHP, Delhivery’s largest shareholders are SoftBank with a 22.78% stake, Nexus Ventures with a 9.23% stake, and The Carlyle Group with a 7.42% stake. Kapil Bharti 1.11%, Mohit Tandon 1.88%, and Suraj Saharan holds a 1.79% stake in the logistics services unicorn.
Company Reduced OFS
According to filed RHP, Delhivery has reduced its OFS share to ₹1235 crore, which was earlier ₹2460 crore. Private equity investors the company, Carlyle and Softbank have reduced their OFS shares to ₹454 crores and ₹365 crores respectively.
What will be done with the money raised?
- ₹2,000 crores of the raised amount will be used to finance organic growth initiatives, which include expanding and developing new business lines, expanding network infrastructure, and improving & upgrading logistics operating systems.
- Along with this, ₹1,000 crores will be used to finance in-organic growth opportunities via accessions and other strategic initiatives.