Delhivery Issues Bonus Shares Ahead of DRHP

Delhivery has issued bonus shares through a resolution passed in the Extraordinary General Meeting (EGM). Ahead of filing its Draft Red Herring Prospectus (DRHP), the company has chosen to distribute 16.8 million bonus shares to equity shareholders in the ratio of 9:1.

The company is also trying to improve its Compulsorily Convertible Preference Shares (CCPS) in the rato of 10:1. Last month, the company declared an investment of $125 million from Lee Fixel’s VC firm Addition. Lee has been investing and reinvesting in the company since 2015. He said Delhivery had built a market-leading position by innovating in the logistics sector and has attracted various marquee investors.

Besides Addition, it includes investors like SoftBank Vision Fund, Tiger Global, Times Internet, The Carlyle Group, and Steadview Capital. It announced a loss of Rs 284 crore during 2019-2020. It decreased from Rs 1,781 crore in 2018-2019. The revenue increased by 74 per cent to Rs 2,986.4 crore during the year 2020.

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