Delhivery’s long-awaited IPO is finally here, but before the game began, the launch of the logistics and supply chain raised nearly 2,347 rupees (~ $ 300 million) from 64 anchored investors.

According to regulatory documentation on the BSE stock exchange, the company decided to distribute about 48 million shares (more precisely 4,81,87,860 shares) at a price of ₹ 487 per share. ₹ 487 is also the upper end of the price range for his IPO. The lower end is ₹ 462.

Some of the anchored investors include senior global investors such as Tiger Global, Bay Capital, Steadview, Fidelity, Baillie Gifford, AIA Singapore, Goldman Sachs, The Master Trust Bank of Japan, Schroders, Amansa Holdings, Aberdeen Standard Life, GIC, State Pension Fund Global and Invesco HK.

Several local mutual funds also participated in the main round, including SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Mirae MF, ICICI Prudential MF, Invesco MF and Nippon India. Delhivery distributed nearly 14.59 million shares.

Going back to the IPO, you may remember that Delhivery he had filed DRHP for a stunning $ 1 billion IPO in November. This became almost ₹ 7500 kroner, but now the size of the IPO has been reduced to ₹ 5.235 kroner.

75% of the issue is reserved for qualified institutional investors, 15% is reserved for non-institutional investors and the remaining 10% for retail investors. Delhivery employees will also not be left out, as the company has set aside кро20 crore shares for eligible employees and will receive a ₹25 discount on participation during the bidding process.

Delhivery said it will invest Rs 2,000 crore to fuel organic growth initiatives such as scaling up existing business lines, developing new neighboring business lines, expanding network infrastructure and upgrading and improving our own logistics operating system. Another ₹ 1000 crores will be used to finance inorganic growth through acquisitions and other strategic initiatives, as well as for general corporate purposes.

The offer will consist of a sale offer (OFS) of ₹ 1235 kroner from existing shareholders and a new issue of shares worth up to ₹ 4000 kroner. It opens for subscription today and will remain open until May 13. Those who wish to do so may purchase a maximum of 13 lots (each lot contains 30 shares) in a price range of ₹ 462-487. The shares will be distributed on May 19, and the shares will be listed on the BSE and the NSF on May 24.

As part of OFS, both Carlyle Group and SoftBank and the co-founders of Delhivery will sell their stakes in the company. While CA Swift Investments, an entity of the Carlyle Group, will sell shares worth ₹ 454 kroner, the co-founders (Kapil Bharati, Mojit Tandon and Suraj Saharan) will sell shares worth ₹ 5 kroner, ₹ 40 kroner and ₹ 6 kroner, respectively.

Times Internet will sell shares worth ₹ 165 kroner, while SVF Doorbell (Cayman) Ltd, a division of Softbank Group, will sell shares worth ₹ 365 kroner. In addition, Deli CMF Pte Ltd, a wholly owned subsidiary of China Momentum Fund, will sell 200 crore worth of shares.

https://thetechportal.com/2022/05/11/delhivery-ipo-anchor-investors/

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