Delhivery raises ₹2,347 crore from anchor investors ahead of IPO
The Hindu
The size of the initial public offer has been cut to ₹5,235 crore from ₹7,460 crore planned earlier
Supply chain company Delhivery on May 10 raised ₹2,347 crore from anchor investors, ahead of its initial share sale, which opened for public subscription on May 11. The company has decided to allocate a total of 4,81,87,860 equity shares to anchor investors at ₹487 apiece, which is also the upper end of the price band, aggregating the transaction size to ₹2,346.74 crore, according to a circular uploaded on the BSE website.
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.
In addition, SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Mirae MF, ICICI Prudential MF, Invesco MF, and Nippon India too participated in the anchor round.
The size of the initial public offer (IPO) has been cut to ₹5,235 crore from ₹7,460 crore planned earlier.
The public issue now comprises fresh issuance of equity shares worth ₹4,000 crore and an offer for sale (OFS) component of ₹1,235 crore by existing shareholders.
Under the OFS, investors Carlyle Group and SoftBank as well as Delhivery's co-founders will divest their shareholding in the logistics company.
CA Swift Investments, an entity of Carlyle Group, will sell shares to the tune of ₹454 crore, SVF Doorbell (Cayman) Ltd, an arm of Softbank Group, will offload shares worth ₹365 crore, Deli CMF Pte Ltd, a wholly-owned subsidiary of private equity fund China Momentum Fund, L.P. will sell shares worth ₹200 crore and Times Internet will sell shares worth ₹165 crore.
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