BENGALURU: Logistics and supply chain company Delhivery will launch its initial public offering (IPO) on May 11, and has fixed a price band of Rs 462- Rs 487 per share. The company has slashed its total issue size to Rs 5,235 crore from Rs 7,460 crore that was planned earlier. The issue can be subscribed till May 13.
The offer includes an employee discount of Rs 25 per share and it has allocated shares worth Rs 20 crore to eligible employees. Bids can be made for a minimum of 30 equity shares. Deli CMF will sell shares up to Rs 200 crore, SVF Doorbell (Cayman)(`365 crore) and Times Internet Limited will sell shares up to Rs 165 crore.
The largest logistics player in the country, Delhivery, services over 17,000 PIN codes in India and it joined the coveted unicorn club in 2019 after raising $413 million in Series F round, which was led by SoftBank Vision Fund. It has fulfilled over 1 billion orders so far.
Gurugram-based Delhivery said the net proceeds will be utilised towards inorganic growth initiatives in addition to organic growth initiatives. The company reported net loss of Rs 891 crore and revenue of Rs 4,911 crore for the nine months ended December 31, 2021.