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Delhivery gets SEBI approval for ₹7,460 crore IPO

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January 18, 2022: Supply chain unicorn Delhivery has received approval from the markets regulator Securities & Exchange Board of India (SEBI) to raise ₹7,460 crore through an initial public offering (IPO).

The IPO includes a fresh issue of equity shares worth ₹5,000 crore and an offer for sale (OFS) component of ₹2,460 crore by existing shareholders, according to the draft offer prospectus filed by Delhivery.

The markets regulator gave its nod to the Gurugram-based Delhivery last week. Delhivery’s IPO will be an offer to sell shares with a face value of ₹1 each, including the OFS part of the offer, along with the premium as decided at the time of the issue.

Under the OFS, Delhivery’s co-founders – Kapil Bharati, Mohit Tandon and Suraj Saharan – will sell shares worth ₹14 crore, ₹40 crore and ₹6 crore, respectively. Existing investors Carlyle Group and SoftBank will sell shares worth ₹920 crore and ₹750 crore, respectively. Deli CMF Pte, a wholly-owned subsidiary of private equity fund China Momentum Fund will sell shares worth ₹400 crore, and Times Internet will sell shares worth ₹330 crore.

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