Delhivery IPO: Firm raises Rs 2,347 cr from 64 anchor investors ahead of public issue
Delhivery IPO: The company said in the filing that 48,187,860 equity shares were allocated to anchor investors at the ‘anchor investor allocation price’ of Rs 487 per equity share.
- May 11, 2022,
- Updated May 11, 2022 8:09 AM IST
Logistics and supply chain startup Delhivery that will launch its initial public offering on May 11, raised over Rs 2,347 crore from 64 anchor investors, the company said in a BSE filing on May 10.
The company said in the filing that 48,187,860 equity shares were allocated to anchor investors at the ‘anchor investor allocation price’ of Rs 487 per equity share.
SBI Focused Equity Fund, HDFC Large and Mid-Cap Fund, ICICI Prudential Flexicap, Baillie Gifford Pacific Fund, Schroder International, AIA Singapore Pvt Ltd, Goldman Sachs Fund, Mirae Asset Midcap Fund, Monetary Authority of Singapore, Invesco India Contra Fund, Bay Capital India Fund, Tiger Global Investments Fund, Steadview Capital Master Fund are some of the investors that participated in the anchor share allotment.
Delhivery IPO
Delhivery IPO will open today and close on May 13. The firm aims to raise Rs 5,235 crore – cut from Rs 7,460 crore planned earlier – from the share sale. The allotment of shares will be done on May 19, and the stocks will be listed on BSE and NSE on May 24.
Shares are available in a price band of Rs 462 to Rs 487 per equity share. The lot size of the IPO is 30 shares for which one will have to spend Rs 14,610. A retail individual investor can apply for up to 13 lots or 390 shares by spending Rs 1,89,930.
The IPO consists of a fresh issue of Rs 4,000 crore, and an offer for sale of Rs 1,235 crore.
Should you subscribe?
YES Securities has given a SUBSCRIBE call to the IPO for a long-term perspective. The brokerage said the firm is the largest and fastest-growing 3PL express parcel delivery player and has a unified infrastructure network, as well as a diversified customer base. The company has a proprietary technology stack and capabilities and houses a vast amount of data intelligence and R&D.
Yash Gupta of Equity Research Analyst, Angel One Ltd has assigned a NEUTRAL recommendation to the IPO. He said, "Based on annualised FY22 numbers, the IPO is priced at EV/Sales of 5.1 times and Price to Book value of 5.2 times at the upper price band of the IPO. For 9MFY22 the company has reported an EBITDA loss of Rs 232 crore and a Net loss of Rs 891 crore. In the Indian market, no other peer group has the same business model as Delhivery. The company has reported good revenue growth of 82 per cent in 9MFY2022 and it is expected that the company may turn EBITDA positive by the FY2022 end."
Also read: Delhivery IPO to open on May 11: Should you subscribe to the issue?
Logistics and supply chain startup Delhivery that will launch its initial public offering on May 11, raised over Rs 2,347 crore from 64 anchor investors, the company said in a BSE filing on May 10.
The company said in the filing that 48,187,860 equity shares were allocated to anchor investors at the ‘anchor investor allocation price’ of Rs 487 per equity share.
SBI Focused Equity Fund, HDFC Large and Mid-Cap Fund, ICICI Prudential Flexicap, Baillie Gifford Pacific Fund, Schroder International, AIA Singapore Pvt Ltd, Goldman Sachs Fund, Mirae Asset Midcap Fund, Monetary Authority of Singapore, Invesco India Contra Fund, Bay Capital India Fund, Tiger Global Investments Fund, Steadview Capital Master Fund are some of the investors that participated in the anchor share allotment.
Delhivery IPO
Delhivery IPO will open today and close on May 13. The firm aims to raise Rs 5,235 crore – cut from Rs 7,460 crore planned earlier – from the share sale. The allotment of shares will be done on May 19, and the stocks will be listed on BSE and NSE on May 24.
Shares are available in a price band of Rs 462 to Rs 487 per equity share. The lot size of the IPO is 30 shares for which one will have to spend Rs 14,610. A retail individual investor can apply for up to 13 lots or 390 shares by spending Rs 1,89,930.
The IPO consists of a fresh issue of Rs 4,000 crore, and an offer for sale of Rs 1,235 crore.
Should you subscribe?
YES Securities has given a SUBSCRIBE call to the IPO for a long-term perspective. The brokerage said the firm is the largest and fastest-growing 3PL express parcel delivery player and has a unified infrastructure network, as well as a diversified customer base. The company has a proprietary technology stack and capabilities and houses a vast amount of data intelligence and R&D.
Yash Gupta of Equity Research Analyst, Angel One Ltd has assigned a NEUTRAL recommendation to the IPO. He said, "Based on annualised FY22 numbers, the IPO is priced at EV/Sales of 5.1 times and Price to Book value of 5.2 times at the upper price band of the IPO. For 9MFY22 the company has reported an EBITDA loss of Rs 232 crore and a Net loss of Rs 891 crore. In the Indian market, no other peer group has the same business model as Delhivery. The company has reported good revenue growth of 82 per cent in 9MFY2022 and it is expected that the company may turn EBITDA positive by the FY2022 end."
Also read: Delhivery IPO to open on May 11: Should you subscribe to the issue?