Delhivery is an online e-commerce logistics and supply chain firm that is based in Gurgaon. It was founded 11 years ago back in 2011. They offer all sorts of logistical help from the smaller scale services like moving of mail and parcels, partial and full truck load services, all the way up to cross bored and international mailing and goods delivery.
The company has been working on going public for over a year now and finally put pen to paper recently as their initial public offering of the company was subscribed to 1.63 times on the last day of it, as the total size of the IPO was a massive 6.25 crores total shares.
The size of the initial offer first stood at 10.75 crores of shares, but they brought it down to a still huge 6.25 crores shares after the company was able to onboard 64 angel investors who collectively injected funds worth Rs. 2346 crores into the firm. Many of these investors are internationally based fund management companies such as Goldman Sachs and Baillie Gifford Pacific Fund.
The firm has even kept aside shares for their employees as an employee’s stock option plan and it cumulatively amounts to Rs. 20 crores. They will also be offered an exclusive discount that is worth Rs. 25 per share. The discount for them as however already closed and the price for each share has a minimum floor of Rs. 462 and its ceiling is priced at Rs. 487 for every individual stock.
57% of the shares given out to the public have been set aside for the retail investors while the Rs. 20 crores worth of shares for the employees make up about 27% of the total shares given out.
When asked what the company plans to do with all the fresh funds, their spokes people said that they will be focussing on growing the company and expanding operations across the nation. That will be their first and main priority. They also plan to grow in other ways by acquiring companies that will be beneficial for all parties and they even plan to test out other strategic avenues to grow the company.
Many experts have said that investing in this company is a safe and sure bet as many companies have given this initial public offering a positive rating and they believe that the value of the company is only set to grow once they start utilizing these new funds.
