Delhivery IPO: The company has reduced its OFS share to Rs 1235 crore from the earlier Rs 2460 crore. Delhi's IPO worth Rs 5,235 crore will open on May 11. Of this Rs 5,235 crore IPO, Rs 4,000 crore will be raised through fresh issue. While the remaining amount will be raised through Offer for Sale (OFS).
Another opportunity has come for the profit making money in IPO. Logistics company Delhi is coming up with its IPO. The company has filed RHP with the market regulator SEBI for the IPO. According to information received from sources, Delhi's IPO of Rs 5,235 crore will open on May 11. Of this Rs 5,235 crore IPO, Rs 4,000 crore will be raised through fresh issue. While the remaining amount will be raised through Offer for Sale (OFS).
Confidence boosted by recent IPO success
The company has decided to launch an IPO after the recent IPOs of Rainbow and Campus received positive response from investors. The success of the recent IPO has also boosted the confidence of investment bankers.
The company reduced the part of OFS
According to RHP, the company has reduced its OFS share to Rs 1235 crore from the earlier Rs 2460 crore. Private equity investors like Carlyle have reduced their OFS share to Rs 454 crore from the earlier Rs 920 crore. At the same time, SoftBank has reduced its share to Rs 365 crore from the earlier Rs 750 crore.
The amount received from the IPO will be used here
Delhivery will use Rs 2,000 crore from the IPO to finance organic growth initiatives. These include expanding existing business lines, developing new business lines, expanding network infrastructure, and improving and upgrading logistics operating systems. In addition, the company will use around Rs 1,000 crore to finance in-organic growth opportunities through acquisitions and other strategic initiatives.
This will be BRML
Kotak Mahindra Capital, Morgan Stanley, BofA Securities and Citigroup are the BRLMs of the issue.
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