Delhivery IPO's 3-day offer opens today - All you need to know

1. Downloaded from: justpaste.it/6ymoo Delhivery IPO's 3-day offer opens today: All you need to know Delhivery provides supply chain solutions to a diverse base of 23,113 active customers such as e-commerce marketplace, direct-to-consumers e-tailers, and enterprises across several verticals. Market News: Logistics player Delhivery’s initial public offering (IPO) opened for subscription today with a price band of Rs 462- 487 per share. The three-day issue will close on Friday, May 13. The Gurugram-based firm has raised Rs 2,347 crore from 64 anchor investors ahead of its IPO. Some of the anchor investors who participated in the allotment include Tiger Global, Bay Capital, Amansa, GIC, and Baillie Gifford.

2. While the company plans to raise Rs 4,000 crore of fresh capital through issuance of shares, the offer of sale (OFS) portion was reduced to Rs 1,235 crore from Rs 2,460 crore. The logistics major aims to utilize the Rs 2,000 crore in funding growth initiatives, Rs 1,000 crore towards inorganic growth through acquisitions or strategic alliances and the remaining Rs 1,000 crore in general corporate purposes. The company’s market value on a post-dilution basis is expected to be Rs 35,284 crore in the upper end. According to IPO Watch, shares of Delhivery commanded Rs 7 premium in the grey market. However, investors witnessed a decline in premium ahead of its IPO, after commanding Rs 25 over the weekend. Upon listing, Delhivery will join peers like Blue Dart Express, TCI Express, and Mahindra Logistics…Read More