BENGALURU: Logistics company Delhivery has filed the red herring prospectus for a Rs 5,235 crore IPO with SEBI. The issue size shrank from Rs 7,460 crore which it had planned earlier. The issue will open for subscription on May 11th.
The prospectus showed that the company reduced its OFS stake from Rs 2,460 crore to Rs 1,235 crore. Private equity investors like Carlyle have reduced their OFS stake from Rs 920 crore to Rs 454 crore. SoftBank has also reduced its stake by half from Rs 750 crore to Rs 365 crore. Co-founders of Delhivery will attend OFS.
Ahead of the IPO, the logistics company appointed three independent directors, including Kalpana Morparia, former chairman of JPMorgan Southeast Asia, Romesh Sobti, former CEO and managing director of Indusind Bank, and Saugata Gupta, CEO and managing director of Marico.
Delhivery includes over 17,000 PIN codes. The company provides a full range of logistics services such as express parcel transportation, PTL, TL freight, cross-border, supply chain and technology services. Delhivery has handled over 1 billion shipments and works with over 21,000 customers.
Recently, Delhivery invested in Falcon Autotech, a provider of logistics automation solutions. The investment is in line with Delhivery’s goal of making sustainable investments in future-proof hardware solutions in its operations. Delhivery operates 20 automated sorting centers, 124 gateways and 83 fulfillment centers across India as of June last year.
Sources told TOI that Delhivery plans to use Rs 2,000 crore to expand its existing business lines and invest in neighborhoods, expand its network infrastructure and upgrade and improve its logistics operating system. It also plans to use Rs 1,000 crore to fund its acquisition plans.
The prospectus showed that the company reduced its OFS stake from Rs 2,460 crore to Rs 1,235 crore. Private equity investors like Carlyle have reduced their OFS stake from Rs 920 crore to Rs 454 crore. SoftBank has also reduced its stake by half from Rs 750 crore to Rs 365 crore. Co-founders of Delhivery will attend OFS.
Ahead of the IPO, the logistics company appointed three independent directors, including Kalpana Morparia, former chairman of JPMorgan Southeast Asia, Romesh Sobti, former CEO and managing director of Indusind Bank, and Saugata Gupta, CEO and managing director of Marico.
Delhivery includes over 17,000 PIN codes. The company provides a full range of logistics services such as express parcel transportation, PTL, TL freight, cross-border, supply chain and technology services. Delhivery has handled over 1 billion shipments and works with over 21,000 customers.
Recently, Delhivery invested in Falcon Autotech, a provider of logistics automation solutions. The investment is in line with Delhivery’s goal of making sustainable investments in future-proof hardware solutions in its operations. Delhivery operates 20 automated sorting centers, 124 gateways and 83 fulfillment centers across India as of June last year.
Sources told TOI that Delhivery plans to use Rs 2,000 crore to expand its existing business lines and invest in neighborhoods, expand its network infrastructure and upgrade and improve its logistics operating system. It also plans to use Rs 1,000 crore to fund its acquisition plans.
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