Gurgaon Based Startup Delhivery might be looking forward to launching an IPO this month
- ByStartupStory | May 2, 2022
Delhivery, a Gurgaon-based startup, held a board meeting on Saturday to discuss whether they should go ahead with the idea of an IPO this month or not, and the board had given a thumbs-up to the idea, hence making it very likely that an IPO might be opened after the LIC IPO window subscription closes on May 9.
Delhivery is an integrated logistics firm, which cut its IPO offering from Rs 7460 crores to Rs 5500 crores due to difficult market conditions. Since the market conditions weren’t hopeful, Delhivery had to postpone its sale of shares despite approval from SEBI early in January.
The reason why the company didn’t go public is that, according to the co-founder and chief executive of Delhivery, they want to go public when their company is well understood since valuation is an important factor but not an emergency. They didn’t require funds urgently and the market conditions weren’t that hopeful either.
The plan to open the subscription window after LIC is so that the investors can finalize allocations for Delhivery IPO based on their allotments in the LIC IPO. According to the company’s internal source, the largest shareholders of the company are SoftBankHolding, Nexus Ventures, and CI Swift Holdings.
Follow Startup Story
Related Posts
