One of the major companies in the industry of supply chain, Delhivery received Rs 2,347 crore from anchor investors on Tuesday, ahead of its initial public offering (IPO) on Wednesday. According to a circular posted on the BSE website, the business has opted to distribute a total of 4,81,87,860 equity shares to anchor investors for 487 each, which is also the higher end of the price band, bringing the entire transaction size to 2,346.74 crore.
The list of anchor investors includes Aberdeen New India Investment Trust Plc, Amansa Holdings, AIA Singapore, Aberdeen New India Investment Trust Plc, Goldman Sachs, The Master Trust Bank of Japan, Goldman Sachs, Government of Singapore, Fidelity, Monetary Authority of Singapore, Tiger Global Investments Fund, Morgan Stanley Asia (Singapore) Pte, Steadview Capital Master Fund, Segantii India Mauritius and Societe Generale. Other participants in the anchor round were ICICI Prudential Mutual Fund (MF), SBI MF, Mirae MF, HDFC MF, Nippon and Invesco MF.
Delhivery offers an exhaustive set of logistics services, including express parcel delivery, heavy goods delivery, etc.
Earlier planned as Rs 7,460 crore, the size of the initial public offer has been brought down to Rs 5,235 crore. Fresh issuance of equity shares has been added to the public issue now which are worth Rs 4,000 crore and also a component of the offer for sale (OFS) of Rs 1,235 crore by the already existing shareholders. Investors SoftBank and Carlyle Group will relieve their shareholding in the company along with the co-founders of Delhivery.
A subsidiary of Carlyle Group, CA swift Investments will sell out the shares worth Rs 453 crore, on the other hand, a subsidiary of Softbank Group, SVF Doorbell (Cayman) Ltd, will sell shares worth 365 crore, Deli CMF Pte Ltd, an entirely owned subsidiary of private equity firm China Momentum Fund, L.P., will sell shares worth 200 crore, and Times Internet will sell shares worth 165 crore. The co-founders of Delhivery, Mohit Tandon, Suraj Saharan and Kapil Bharati will be selling shares worth Rs 40 crore, Rs 6 crore and Rs 5 crore.
Earlier planned as Rs 7,460 crore, the size of the initial public offer has been brought down to Rs 5,235 crore.
Currently, the percentage of the stake owned by several investors is such, Carlyle has 7.42 per cent, SoftBank owns 22.78 per cent, Tandon has 1.88 per cent, and Saharan owns 1.79 per cent, and Bharati holds 1.11 per cent. The proceedings for the new offering will be used to fund organic growth efforts, inorganic expansion through acquisitions and other strategic projects, as well as general business reasons. 75 per cent of the issuance has been set aside for qualified institutional investors, 15% for non-institutional investors, and the remaining 10% for individual investors.
Delhivery offers an exhaustive set of logistics services, including express parcel delivery, heavy goods delivery, warehousing, supply chain solutions, cross-border express and freight services, and supply chain software, as well as value-added services like e-commerce return services, payment collection and processing, and installation and assembly services. The company serves a diverse group of 23,113 active customers, including e-commerce marketplaces, direct-to-consumer e-tailers, enterprises, and small and medium-sized businesses (SMEs) in industries such as FMCG, consumer durables, consumer electronics, lifestyle, retail, automotive, and manufacturing. The company based out of Gurugram has also shared that five customers have contributed to the revenue of FY21, with a value of 40 per cent.