Delhivery IPO: Logistics services firm Delhivery has reportedly got the nod from the Securities and Exchange Board of India (SEBI) for an initial public offering, or IPO, of Rs 7,460 crore. This comes amid a surge in interest among companies to release their public offerings since last year. The IPO boom is expected to continue this year with around 40 companies awaiting SEBI nod. Delhivery is the first unicorn this year to get its IPO approved by the market regulator. According to reports, experts have even suggested that it may cross last year’s level.
Delhivery had in November filed draft papers with Sebi for an initial offer of Rs 7,460 crore. The Delhivery IPO is expected to hit the market soon, as it has received approval from SEBI. The company will raise Rs 5,000 crore through fresh issue while the remaining Rs 2,460 crore will be offered for sale.
The date, lot size and share price of Delhi IPO are yet to be announced, as no official notification was issued regarding the IPO. According to a report in ET Now, the IPO will not clash with the Union Budget, which is scheduled to be presented on February 1. IPO table,” said an ET Now official.
According to the Economic Times report, Gurugram-based Logistics Services Unicorn has become the first unicorn in 2022 to get SEBI approval in the stock market. The public offer by SoftBank and Carlyle-baked Delhivery follows a bumper listing on the stock market last year by unicorns Nykaa and Zomato. However, the Paytm IPO on Dalal Street has become a cause of concern for the investors as well as the primary market. It remains to be seen how the Delhi IPO performs during the listing.
According to the Economic Times report, SoftBank and Carlyle will sell their shares during the IPO. In addition, Times Internet was listed among the shareholders sold during the DHRP filed in November, the report said. Three of the five co-founders of Delhivery, including Kapil Bharti, Mohit Tandon and Sooraj Saharan, will also sell their shares during the public issue.
In a previous ET report, Delhivery was seeking a valuation of $6-6.5 billion for its listing during its DHRP filing.
“Delhivari Limited is a well established company for the growing ecommerce demand in India, the company has more than 21,000 clients which include e-commerce, direct to home companies etc. On the financial front, the company has registered good growth in revenue. But still not able to report a positive bottom line, the company has reported revenue of Rs 3,838 crore and loss of Rs 4,155 crore in FY21,” AngelOne said in a note.
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