Delhivery IPO to open on May 11; issue size reduced

Logistics company Delhivery's initial share sale will open on May 11 and close on May 13

The issue size has been reduced to Rs 5,235 crore amid market volatility and uncertain geo-political situation.

The logistics firm had initially planned to raise Rs 7,460 crore through the initial public offering (IPO).

The IPO comprises of fresh issue of equity up to Rs 4,000 crore and an offer for sale of shares aggregating up to Rs 1,235 crore.

With a 22.78 percent stake, SoftBank Holding is the largest shareholder in the company. Nexus Ventures and CI Swift Holdings (Carlyle) hold a 9.23 percent and 7.42 percent stake. Kapil Bharati holds 1.11 percent, Mohit Tandon owns 1.88 percent, and Suraj Saharan has a 1.79 percent stake.

Private equity investors such as Carlyle have pared their OFS portion from Rs 920 crore to Rs 454 crore.

SoftBank has reduced its portion by half from Rs 750 crore to Rs 365 crore. Delhivery co-founders will participate in the OFS. Kapil Bharati will sell shares worth Rs 5 crore, Mohit Tandon will sell shares worth Rs 40 crore and Suraj Saharan is selling up to Rs 6 crore worth of shares.

Fosun group-owned China Momentum Fund, via its affiliate Deli CMF Pte Ltd, will sell up to Rs 200 crore.

The OFS will comprise up to Rs 454 crore by CA Swift Investments, up to Rs 365 crore by SVF Doorbell Ltd, and up to Rs 165 crore by Times Internet.

The IPO for anchor investors will open on May 10.

Published on: Wednesday, May 04, 2022, 06:52 PM IST