According to a circular posted on the BSE website, the business has opted to distribute a total of 4,81,87,860 equity shares to anchor investors at a price of 487 each, which is also the higher end of the price band, bringing the entire transaction size to 2,346.74 crore. Among the anchor investors are AIA Singapore, Amansa Holdings, Aberdeen New India Investment Trust Plc, Goldman Sachs, The Master Trust Bank of Japan, Fidelity, Tiger Global Investments Fund, Steadview Capital Master Fund, Morgan Stanley Asia (Singapore) Pte, Societe Generale, and Segantii India Mauritius.
The anchor round also included SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Mirae MF, ICICI Prudential MF, Invesco MF, and Nippon India.
The size of the initial public offering (IPO) has been reduced from 7,460 crore to 5,235 crore.
The public offering now includes a 4,000 crore fresh issuance of equity shares and a 1,235 crore offer for sale (OFS) component from existing shareholders. Carlyle Group and SoftBank, as well as Delhivery’s co-founders, will divest their shares in the logistics company under the OFS.
CA Swift Investments, a Carlyle Group subsidiary, will sell shares worth 454 crore, SVF Doorbell (Cayman) Ltd, a Softbank Group subsidiary, will sell shares worth 365 crore, Deli CMF Pte Ltd, a wholly owned subsidiary of private equity firm China Momentum Fund, L.P., will sell shares worth 200 crore, and Times Internet will sell shares worth 165 crore.
The co-founders of Delhivery, Kapil Bharati, Mohit Tandon, and Suraj Saharan, will also sell shares worth 5 crore, 40 crore, and 6 crore, respectively.
SoftBank currently owns 22.78 percent of the firm, while Carlyle owns 7.42 percent, Bharti owns 1.11 percent, Tondon owns 1.88 percent, and Saharan owns 1.79 percent. The public offering will begin accepting subscriptions on May 11 and end on May 13, with a price range of 462-487 per share.
The proceeds from the new offering will be used to fund organic growth efforts, inorganic expansion through acquisitions and other strategic projects, as well as general business objectives. 75 percent of the issue has been set aside for qualified institutional investors, 15% for non-institutional investors, and the balance 10% for retail investors.
Furthermore, the corporation has put aside 20 crore worth of shares for eligible employees, who will receive a 25 percent discount on equity stock during the bidding process. In FY21, the Gurugram-based firm reported that five customers contributed for more than 40% of its sales.
The issue’s book running lead managers are Kotak Mahindra Capital Company, BofA Securities India, Morgan Stanley India Company, and Citigroup Global Markets India.
On May 24, the supply chain company’s equity shares will be launched on the BSE and NSE stock exchanges. Delhivery bought Spoton in August in order to expand its partial truckload (PTL) freight services company.
