Delhivery IPO: E-Commerce Logistics Firm Collects Rs 2,347 Crore From Anchor Investors

The price band of the issue has been fixed at Rs 462-487 per share and the subscription will open on May 11 and conclude on May 13

New Delhi: Delhivery, e-commerce supply chain start-up, on Tuesday garnered Rs 2,347 crore from anchor investors, ahead of its initial public offering (IPO), which opens for subscription on Wednesday.

According to a circular on the BSE, the logistics supply firm has decided to allocate a total of 4,81,87,860 equity shares to anchor investors at Rs 487 apiece, which is also the upper end of the price band, aggregating the transaction size to Rs 2,346.74 crore.

The anchor investors for Delhivery are AIA Singapore, Amansa Holdings, Aberdeen New India Investment Trust Plc, Goldman Sachs, The Master Trust Bank of Japan, Government of Singapore, Monetary Authority of Singapore, Fidelity, Tiger Global Investments Fund, Steadview Capital Master Fund, Morgan Stanley Asia (Singapore) Pte, Societe Generale, and Segantii India Mauritius are among the anchor investors.

The other investors – SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Mirae MF, ICICI Prudential MF, Invesco MF, and Nippon India – also took part in the anchor round.

Earlier, the size of the IPO was planned Rs 7,460 crore, however, later the size has been cut to Rs 5,235 crore.

The public issue now comprises fresh issuance of equity shares worth Rs 4,000 crore and an offer for sale (OFS) component of Rs 1,235 crore by existing shareholders.

The founders of the company along with investors Carlyle Group and SoftBank will offload their shareholding in the logistics firm.

CA Swift Investments, an entity of Carlyle Group, will sell shares to the tune of Rs 454 crore, SVF Doorbell (Cayman) Ltd, an arm of Softbank Group, will offload shares worth Rs 365 crore, Deli CMF Pte Ltd, a wholly owned subsidiary of private equity fund China Momentum Fund, L.P. will sell shares worth Rs 200 crore and Times Internet will sell shares worth Rs 165 crore, according to the report.

The price band of the issue has been fixed at Rs 462-487 per share and the subscription will open on May 11 and conclude on May 13.

About 75 per cent of the issue has been reserved for qualified institutional investors (QII), 15 per cent for non-institutional investors (NII), and the remaining 10 per cent for retail investors.

Delhivery said that the 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.