According to investment bankers, Delhivery, an integrated logistics company, will probably conduct its initial public offering this month. Due to adverse market conditions, the business may reduce the issue size to Rs 5,500 crore from Rs 7,460 crore previously intended, according to one source familiar with the situation.
The Gurgaon-based business convened a board meeting to consider whether or not to proceed with the IPO this month. The strategy was approved by the board, and the offer is expected to go live after the LIC IPO subscription window closes on May 9, according to persons familiar with the situation.
The original IPO plan for Delhivery was to issue new shares worth Rs 5,000 crore and a Rs 2,460 crore offer for sale by existing shareholders. According to one of the sources, the business would most likely adjust this due to the smaller offer amount.
SoftBank Holdings, with a 22.78 percent interest, Nexus Ventures, with a 9.23 percent stake, and CI Swift Holdings (Carlyle), with a 7.42 percent investment, are the company’s major shareholders, according to the company’s draught red herring prospectus. Kapil Bharati owns 1.11 percent of the firm, Mohit Tandon owns 1.88 percent, and Suraj Saharan owns 1.79 percent.
