The IPO of Delhivery, the largest fully integrated logistics company in India, is anticipated to begin on May 11 and end on May 13. Additionally, the shares will be credited to the Dematfinalizehas account on May 23 and the basis for allocation will be on May 19. On May 24, the company will list on exchanges. Delhivery intends to launch the offering the next week as a result of the excellent feedback received from the most recent IPOs of Rainbow and Campus, which gave investment bankers hope for a healthy reaction, according to sources.
The company has decreased the size of its entire offer from the previously anticipated Rs 7,460 crore to Rs 5,235 crore. According to the bankers, it would now raise Rs 4,000 crore through the new issuance and Rs 1,235 crore through an offer for sale (OFS).
China Momentum Fund, a company owned by the Fosun group, will sell up to Rs 200 crore through its subsidiary Deli CMF Pte Ltd. The OFS would include contributions of up to Rs 165 crore from Times Internet, up to Rs 365 crore from SVF Doorbell Ltd., and up to Rs 454 crore from CA Swift Investments.
The co-founders of Delhivery will take part in the OFS as well. Mohit Tandon will sell shares worth Rs 40 crore, Suraj Saharan would sell shares worth up to Rs 6 crore, and Kapil Bharati will sell shares worth Rs 5 crore.
On Saturday, the board of the Gurgaon-based business met to finalize its IPO. The plan was approved by the board, and the offer is anticipated to begin trading once the LIC IPO subscription window closes on May 9.
The issuers' bankers include Kotak Mahindra Capital, Morgan Stanley, BofA Securities, and Citigroup.
SoftBank Holding, which owns 22.78% of the company, is the second-largest shareholder, followed by Nexus Ventures and CI Swift Holdings (Carlyle), which each has 9.23% and 7.42% of the company, respectively. Mohit Tandon owns 1.88 percent, Suraj Saharan has a 1.79 percent interest, and Kapil Bharati has 1.11%.
The logistics giant appointed three business veterans as independent directors as part of its plan to go public. This comprises Saugata Gupta, CEO and managing director of Marico, Romesh Sobti, former CEO and managing director of Indusind Bank, and Kalpana Morparia, former chairman of JP Morgan South and Southeast Asia.
Its overall revenue for the fiscal year 2021 was Rs 3,838.29 crore, up from Rs 2,988.63 crore the previous year. The net loss for the period increased from the previous year's Rs 268.93 crore to Rs 415.74 crore.
The DRHP asserts that as of Fiscal 2021, it will be the largest and fastest-growing fully integrated logistics player in India. In addition to rapid parcel delivery, heavy cargo delivery, truckload freight, warehousing, and supply chain solutions, Delhivery also offers a full variety of logistics services. Two years ago, the company attained Unicorn status.
The company has 90 percent of the nation covered with its 2,200 direct delivery centers, 120+ gateways, 20+ automated sort centers, 80+ fulfillment centers, and over 15 million square feet of leased infrastructure working at a pan-Indian level. It serves 21,342 active customers from a variety of industries, including FMCG, consumer durables, lifestyle, retail, automotive, and manufacturing. These customers also include e-commerce marketplaces, D2C e-tailers, companies, and SMEs.