Delhivery sets IPO price band at Rs 462-487 per share
Supply chain company Delhivery on Thursday fixed a price band of Rs 462-487 a share for its Rs 5,235-crore initial public offering (IPO), which will open for subscription on May 11.
The three-day initial share will conclude on May 13 and the bidding for anchor investors will open on May 10, according to the company.
The size of the IPO has been cut to Rs 5,235 crore from Rs 7,460 crore planner earlier.
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.
Proceeds of the fresh issue will be used towards funding organic growth initiatives, inorganic growth through acquisitions and other strategic initiatives, and for general corporate purposes.
About 75 per cent of the issue has been reserved for qualified institutional investors, 15 per cent for the non-institutional investors and the remaining 10 per cent for retail investors.
Investors can bid for a minimum of 30 equity shares and in multiples thereof.
The e-commerce logistics company operates a pan-India network and provides services in 17,045 postal index number (PIN) codes.
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 May, Delhivery announced that it has raised USD 275 million (about Rs 2,000 crore) in a primary funding round, led by Fidelity Management and Research Company. With this capital raise, Delhivery's valuation was expected to rise to over USD 3 billion. PTI SP ANU ANU
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