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Homegrown Logistics Firm Delhivery Files For IPO, Plans To Raise Over Rs 7,400 Crore
(Pic Via Delhivery Website)
Homegrown logistics firm Delhivery has filed for an initial public offering (IPO) with Securities and Exchange Board of India (SEBI) with aims to raise up to Rs 7,400 crore.
The IPO will comprise of a fresh issue of shares worth Rs 5,000 crore and an offer for sale of shares worth Rs 2,460 crore, according to its draft red herring prospectus dated 1 November, reports Livemint.
BOFA Securities, Kotak Mahindra, Citigroup and Morgan Stanley India are the bookrunning lead managers for the IPO.
The homegrown logistics company, which was founded in 2011, provides supply chain solutions to 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.
According to RedSeer Report, Delhivery was the largest and fastest growing fully-integrated logistics services player in India by revenue as of fY21.
The company had in August this year announced the acquisition of Bengaluru-based Spoton Logistics to further strengthen its B2B capabilities.
As of July 2021, Delhivery operated 20 fully and semi-automated sortation centres and 86 gateways across India.
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