• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Saturday, June 14, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Delhivery receives SEBI’s go-ahead to raise Rs 7,460 crore via IPO

by Balraj
January 19, 2022
in Business, India News, Startups
Reading Time: 2 mins read
0
Delhivery logistics truck mockup image

Courtesy: Delhivery

TwitterWhatsappLinkedin

Logistics supply chain startup Delhivery received approval from the Securities and Exchange Board of India (SEBI) on Tuesday to raise Rs 7,460 crore (~$ 997.3 million) through an initial public offering (IPO). The IPO is expected to launch next month, according to reports.

You might also like

Android 16 Rolls Out With New Features for Pixel Phones and Beyond

Nippon Steel Asserts Need for ‘Management Freedom’ in U.S. Steel Takeover

Google Is Shutting Down Android Instant Apps Due to Low Usage

Delhivery logistics truck mockup image
Courtesy: Delhivery

Markets regulator SEBI issued an observation letter on January 13. It should be noted that the draft red herring prospectus (DRHP) of Delhivery was filed with SEBI in early November 2021. According to the company’s draft red herring prospectus (DRHP), the IPO comprises a primary issue of shares worth Rs 5,000 crore as well as an offer for sale (OFS) by existing investors worth Rs 2,460 crore.

Carlyle Group, which owns 7.42 percent of the company, is slated to sell shares worth Rs 920 crore, whereas SoftBank, which controls 22.78 percent of Delhivery, is likely to liquidate shares worth Rs 750 crore. China Moment Fund will also sell Rs 400 crore in shares, and Times Internet will offload another Rs 330 crore through the OFS. Kapil Bharati, Mohit Tandon, and Suraj Saharan, the founders of Delhivery, are also planning to sell shares for Rs 62 crore in the proposed IPO.

The Gurugram-based startup is seeking a valuation between $5-5.5 billion from its proposed IPO. The book-running lead managers for the offering are BofA Securities, Citigroup, Kotak Mahindra Capital, Morgan Stanley India. Delhivery turned unicorn in 2019 after raising $413 million in a Series F round of funding led by SoftBank Vision Fund, along with existing investors Fosun International and Carlyle Group at a valuation of $1.5 billion.

It seeks to use the capital raised from the IPO to fund organic as well as inorganic growth initiatives, which include acquisitions among other strategic capabilities. While around Rs 2,500 crore is set aside for organic growth initiatives, another Rs 1,250 crore is set aside for expansion through acquisitions and other strategic initiatives, according to the DRHP.

Delhivery also said in its draft prospectus, “In case of any surplus after utilization of the net proceeds towards the aforementioned objects, we may use such surplus towards general corporate purposes, provided that the total amount to be utilized towards general corporate purposes does not exceed 25% of the net proceeds in accordance with applicable law.”

In terms of revenue, the IPO-bound logistics startup is the largest and fastest-growing fully-integrated logistics solutions company in India as of FY21. Delhivery’s proprietary technology solutions allow it to provide seamless logistics services to a diverse range of customers. Its technology stack includes more than 80 applications that handle all supply chain operations, such as order management, transportation management, warehouse management, financial transactions such as billing & remittance, tracking, and supply chain analytics.

Read: Delhivery’s Financial

Tags: DelhiveryDelhivery IPODRHPIPOKapil Bharati.logistics servicesLogistics startupMohit TandonSEBISoftBank GroupSupply Chain TechnologySuraj Saharan
Tweet54SendShare15
Previous Post

Elon Musk expresses security concerns over social media accounts tracking his travel movements

Next Post

How to set up voicemail on iPhone

Balraj

Balraj writes about Startup, Business, Technology related news on Techstory... For Business Enquires related to TechStory; Get in touch on: [email protected]...

Recommended For You

Android 16 Rolls Out With New Features for Pixel Phones and Beyond

by Anochie Esther
June 14, 2025
0
Android 16

Google has officially launched Android 16, the latest iteration of its mobile operating system. As expected, the update is rolling out first to Pixel devices, with wider availability...

Read more

Nippon Steel Asserts Need for ‘Management Freedom’ in U.S. Steel Takeover

by Anochie Esther
June 14, 2025
0
Nippon Steel

Shares of U.S. Steel dropped by 4% after a Nippon Steel executive told Japan’s Nikkei newspaper that the company's planned $14.9 billion acquisition of U.S. Steel hinges on...

Read more

Google Is Shutting Down Android Instant Apps Due to Low Usage

by Anochie Esther
June 14, 2025
0
Google

Google has officially confirmed that it will be sunsetting Android Instant Apps in December 2025, bringing an end to one of its more ambitious efforts to simplify app...

Read more
Next Post
How to set up voicemail on iPhone

How to set up voicemail on iPhone

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?