Delhivery, a supply chain company, is all set to open for public subscription Wednesday after it raised ₹2,347 crore from anchor investors.
The three-day initial share sale will conclude on May 13 and the bidding for anchor investors was opened on May 10.
According to a circular uploaded on the BSE website, the company has decided to allocate a total of 4,81,87,860 equity shares to anchor investors at ₹487 apiece, which is also the upper end of the price band, aggregating the transaction size to ₹2,346.74 crore.
Here’s all you need to know about the Delhivery IPO subscription:
The price band of the IPO is ₹462-487.
The public subscription will close on May 13.
The Delhivery IPO will be listed on May 24.
The size of the initial public offer (IPO) has been cut to ₹5,235 crore from ₹7,460 crore planned earlier.
AIA Singapore, Amansa Holdings, Aberdeen New India Investment Trust Plc, Goldman Sachs, The Master Trust Bank of Japan, Government of Singapore, Monetary Authority of Singapore are among the anchor investors.
In addition, SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Mirae MF, ICICI Prudential MF, Invesco MF and Nippon India too participated in the anchor round.
The public issue now comprises fresh issuance of equity shares worth ₹4,000 crore and an offer for sale (OFS) component of ₹1,235 crore by existing shareholders.
Under the OFS, investors Carlyle Group and SoftBank as well as Delhivery’s co-founders will divest their shareholding in the logistics company.
The company has set aside shares worth ₹20 crore for eligible employees, who will get a discount of ₹25 per equity stock during the bidding process.
Investors can bid for a minimum of 30 equity shares and in multiples thereof.
The e-commerce logistics company operates a pan-India network and provides services in 17,045 postal index number (PIN) codes.