Delhivery files DRHP for Rs 7,460 crore IPO

Logistics company Delhivery has filed its DRHP with the SEBI for its IPO. The issue size of the IPO is Rs 7,460 crores sources suggested.

Delhivery’s aim is to build the operating system for commerce. It provides express parcel transportation, PTL and TL freight, cross-border and supply chain services to over 21000 customers, including large & small e-commerce participants, SMEs, and other leading enterprises & brands. Its supply chain platform and logistics operations bring flexibility, breadth, efficiency and innovation to its customers’ supply chain and logistics.

The IPO will consist of fresh issue of Rs 5,000 crores which the end-to-end supply chain unicorn will raise via public issue. The offer for sale by the existing investors will be to the tune of Rs 2,460 crores. The likely valuation expected by the company in the IPO issue is around $5.5 billion .

Use of funds raised through fresh issue from the IPO includes Rs 2,500 crore for funding organic growth initiatives, Rs 1,250 crore funding inorganic growth through acquisitions and other strategic initiatives and general corporate proposes. The company is raising total Rs 5,000 crore via IPO.

Major shareholders selling in the IPO are China Momentum Fund (Deli CMF) Rs 400 crore, Carlyle – Rs 920 crore, SoftBank – Rs 750 crore and Times Internet – Rs 330 crore.

Delhivery has recently signed an agreement to acquire a 100 percent stake in rival express logistics player Spoton Logistics