Private Equity

Liquidity Events

Logistics player Delhivery pulls off Rs.5,235-Cr IPO

Economic Times  

The INR 5,235-crore initial public offering (IPO) of logistics and supply chain solution startup Delhivery received bids for 101.7 million shares, or 1.63 times the 62.5 million on offer. The QIB category was subscribed 2.66 times, while the portion reserved for retail bidders was subscribed to the tune of 57%. The part reserved for high networth individuals (HNIs) saw bids for 30% of shares. The employee quota saw bids to the extent of 27%. The company reserved 75% of the net offer for QIBs and 15% for non-institutional buyers (NIIs). The remaining 10% of shares were for retail bidders. The issue was priced at INR 462-487 per share. Delhivery had raised INR 2,400 crore from 64 anchor investors by allotting 48 million shares at INR 487 each. Investors who participated in the anchor share allotment include Tiger Global, Bay Capital, Steadview, Fidelity, Baillie Gifford, Schroders, Amansa, Aberdeen Standard Life, GIC, Government Pension Fund Global and Invesco HK. The Delhivery offer comprised a fresh issue of shares for INR 4,000 crore and an offer for sale by some existing shareholders aggregating INR 1,235 crore. The company cut the issue size to INR 5,235 crore from the INR 7,460 crore.