Delhivery IPO opens today — check out important details related to the IPO
- FMCG company Delhivery will open its IPO today (May 11) and will close on May 13.
- The IPO is a fresh issue of equity shares of ₹3,600 crore.
- Shares of the company were trading at a premium of ₹50 per share in the grey market.
AdvertisementLogistics and supply chain company Delhivery is all set to open its ₹5,235 crore initial public offering (IPO) today, May 11.
The IPO consists of ₹4,000 crore through fresh issue and ₹1,235 crore as an offer for sale (OFS). Shareholders like Carlyle, Japanese Softbank, Fosun group-owned China Momentum Fund and Times Internet will sell some of their shares in the IPO.
The net proceeds from the fresh issue of the IPO will be used to fund the company’s acquisitions and expansion plans.
Here are some of the important details of the IPO:
Delhivery provides a full range of logistics services, including express parcel delivery, heavy goods delivery, PTL freight, TL freight, warehousing, supply chain solutions, and cross-border services, among others.
|IPO open date||May 11|
|IPO close date||May 13|
|Allotment date||May 19|
|Initiation of refunds||May 20|
|Credit of shares to demat account||May 23|
|IPO listing date||May 24|
The company’s express parcel delivery network services 17,500 PIN codes covering 90.6% of the 19,300 PIN codes in India.
However, despite some meaningful growth in its service offerings and sales, the company is still making huge losses.
Source: Delhivery DRHP
|FY21||₹3,838 crore||-₹415 crore|
|FY20||₹2,988 crore||-₹268 crore|
|FY19||₹1,694 crore||-₹1,783 crore|
SEE ALSO: Delhivery delivers parcels to over 90% of India, but will its IPO deliver profits to its investors? Here’s what analysts are saying
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