Delhivery raises Rs 2,347 crore ahead of its public issue from 64 Anchor Investors

• ByStartupStory     |    May 11, 2022

Delhivery, the logistics company has recently raised Rs 2,347 crore from 64 Anchor Investors ahead of its first public issue that will be available for subscription on 11th May. Approximately, 48 million shares were provided to Anchor investors at Rs 487 each as the upper band of the IPO. 

Some foreign investors like Tiger Global, Bay Capital, Steadview, Amansa, GIC, Government Pension Fund Global and Invesco took part in the anchor allotment. And about 14.59 million shares were distributed to seven domestic mutual funds which include HDFC, SBI, ICICI Prudential, Nippon, Templeton and others. 

Few domestic brokerages have also recommended Delhivery IPO for the subscription. Yes Securities said that they believe in Delhivery’s asset-light business model and its engineering and automation abilities. He also added that the company’s advanced technologies will help in enhancing operating efficiency and increase profitability in the upcoming years. 

The company will use Rs 2,000 crore from the issue for its organic growth initiatives like building scale in prevailing business lines, forming new adjacent business lines, extending network infrastructure and also upgrading as well as improvising proprietary logistics. Furthermore, Delhivery will use Rs 1,000 crore of the funding for its inorganic growth via acquisitions and other strategic initiatives. 

Follow Startup Story