IPO

Delhivery Files for IPO to Raise Over Rs 7,400 Cr

Delhivery Logistics has filed for an initial public offering (IPO) with market regulator Securities and Exchange Board of India (SEBI) to raise to Rs 7,400 crore ($997.33 million), joining a long list of startups that have tapped the capital market this year.

The IPO will consist of a fresh issue of shares worth Rs 5,000 crore and an offer for sale of shares worth Rs 2,460 crore, according to a copy of its draft herring prospectus dated November 1. Kotak Mahindra Capital, Morgan Stanley India, BOFA Securities and Citigroup are the books running lead managers for the IPO.

Delhivery competes with DHL’s unit Blue Dart Express Ltd and DTDC India in the $150 billion domestic logistics sector, which contributes about 14 per cent to the country’s gross domestic product, according to the government’s Logistics Skill Council.

According to RedSeer Report, Delhivery was the most significant and fastest-growing fully-integrated logistics services player in India by revenue as of Fiscal 2021.

The company provides supply chain solutions to e-commerce marketplaces, direct-to-consumer e-tailers and enterprises and SMEs across several verticals such as FMCG, Consumer durables, Consumer electronics, Lifestyle, Retail, Automotive and Manufacturing, in the three months ended June 30, 2021.

Get Daily Prediction & Stocks Tips On Your Mobile


This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More