02 Nov , 2021 By : Kanchan Joshi
MUMBAI: Delhivery Ltd, homegrown logistics and supply chain startup, has filed a draft red herring prospectus with the Securities Exchange Board of India (Sebi) to raise up to Rs7,460 crore via an initial public offering (IPO).
The IPO comprises a fresh issuance of equity shares worth of Rs5,000 crore and an offer for sale of shares worth up to Rs2,460 crore by existing promoters and shareholders.
The OFS will see sale of up to Rs400 crore worth of shares by by Deli CMF Pte Ltd, Rs920 crore by CA Swift Investments, up to Rs750 crore by SVF Doorbell Ltd, among others.
Currently, SVF Doorbell Cayman holds 22.78% stake in the company, while CA Swift Investments owns 7.42% share.
Proceeds from the issue worth Rs2,500 crore will be used for funding organic growth and Rs1,250 crore will be set aside for acquisitions.
Kotak Mahindra Capital, Morgan Stanley India, BofA Securities India, Citigroup Global Markets are the book running lead managers to the issue.
Delhivery is the largest and fastest growing fully-integrated logistics services player in India by revenue. It has a nationwide network with presence in each state, servicing 17,045 PIN codes, or 88.3% of the 19,300 PIN codes in India as of June.
Its network infrastructure includes 124 gateways, 20 automated sort centres, 83 fulfilment centres, 35 collection points, 24 returns processing centres, 249 service centres, 120 intermediate processing centres and 2,235 direct delivery centres as of June 30, 2021, including Spoton’s 38 gateways and 145 service centres.
Its self-delivery network is augmented by 1,162 partner locations.
In fiscal 2021, Delhivery fulfilled over 289.20 million express parcel orders, carried 373,854 tonnes of PTL freight, processed 47.37 million orders through its fulfilment centres and completed more than 46,878 truckload movements.
Its total income stood at Rs3,838.29 crore in FY21 compared with Rs2,988.63 crore a year ago. Net loss widened to Rs415.74 crore from Rs268.93 crore in FY20.
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