SEBI approves logistics company Delhivery to bring IPO, the company will raise Rs 7460 crore

New Delhi. The IPO of supply chain giant Delhivery has been given green signal by the capital markets regulator SEBI. The company’s IPO will be worth Rs 7460 crore. Delhivery has become the first top tire startup company of the year whose IPO has been approved by SEBI.

The money raised through the IPO will be used to fund organic and inorganic growth and other strategies through acquisitions. Apart from this, the fund will also be used for meeting common corporate objectives.

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2460 crore shares sold

The Economic Times has published a report regarding the approval of the IPO. According to the draft red herring prospectus (DRHP) filed by SoftBank and Carlyle-backed Delhivery in November, the current shareholders will sell 2460 crore shares under the offer for sale (OFS). The intention of the company is to collect Rs 5000 crore. Apart from SoftBank’s Vision Fund and Carlyle, the name of Times Internet is also in the list of shareholders selling shares. In documents submitted to SEBI, the company had said that Kotak Mahindra Company, BofA Securities India, Morgan Stanley India Company and Citigroup Global Markets India have been appointed as Book Running Lead Managers for the issue.

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Delhivery’s network is across the country

The e-commerce logistics company has a nationwide network. As per the data available till 30 June 2021, it provides services in 17045 Postal Index Numbers (PIN) codes. In the June 2021 quarter, it provided supply chain solutions to around 21342 active customers such as e-commerce market places, direct-to-consumer e-tailers and enterprises and SMEs. The company provided solutions across FMCG, Consumer Durables, Consumer Electronics, Lifestyle, Retail, Automotive and Manufacturing verticals.


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