Private Equity

PE Fund Investments

Delhivery raises Rs 2,347-Cr via anchor placement; Tiger Global pitches in

Economic Times  

Logistics company Delhivery has raised INR 2,347 crore from 64 anchor investors ahead of its maiden initial public offering. About 48 million shares were allotted to anchor investors at INR 487 each, the upper end of the price band for the IPO. Some of the foreign investors who participated in the anchor allotment were Tiger Global, Bay Capital, Steadview, Fidelity, Baillie Gifford, Schroders, Amansa, Aberdeen Standard Life, GIC, Government Pension Fund Global and Invesco HK. About 14.59 million shares were allotted to seven domestic mutual funds including HDFC, SBI, ICICI Prudential, Franklin Templeton, Invesco, Nippon and Mirae, among other anchor investors. Delhivery will utilise INR 2,000 crore from the issue proceeds to fund organic growth initiatives such as building scale in existing business lines, developing new adjacent business lines, expanding network infrastructure, and upgrading and improving proprietary logistics operating system. Further, it will utilise around INR 1,000 crore for funding inorganic growth opportunities through acquisitions and other strategic initiatives.