Delhivery has filed preliminary papers with capital markets regulator Sebi to raise Rs 7,460 crore through an initial public offering (IPO).
The IPO comprises fresh issuance of equity shares worth Rs 5,000 crore and an offer for sale (OFS) component of Rs 2,460 crore by existing shareholders, according to the draft red herring prospectus (DRHP).
As a part of the OFS, Deli CMF PTE Ltd will sell shares worth Rs 400 crore, CA Swift Investments will sell shares to the tune of Rs 920 crore, SVF Doorbell (Cayman) Ltd will divest shares worth 750 crores and Times Internet Ltd will sell shares worth Rs 330 crore.
In addition, Kapil Bharati will offload shares worth Rs 14 crore, Mohit Tandon Rs 40 crore, and Suraj Saharan Rs 6 crore.
Proceeds of the fresh issue will be used towards funding organic growth initiatives, funding inorganic growth through acquisitions and other strategic initiatives, and for general corporate purposes.
The e-commerce logistics company operates a pan-India network and provides services in 17,045 postal index number (PIN) codes, as of June 30, 2021.
It provides supply chain solutions to a diverse base of 21,342 active customers such as e-commerce marketplaces, direct-to-consumer e-tailers, and enterprises and SMEs across several verticals such as FMCG, consumer durables, consumer electronics, lifestyle, retail, automotive and manufacturing, in the three months ended June 30, 2021.
Kotak Mahindra Capital Company, BofA Securities India, Morgan Stanley India Company, and Citigroup Global Markets India are the book running lead managers to the issue.
In May, Delhivery announced that it raised USD 275 million (about Rs 1,995 crore) in the primary funding round, led by Fidelity Management and Research Company.
With this capital, Delhivery's valuation was expected to rise to over USD 3 billion.
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