Delhivery issues bonus shares ahead of IPO
- ByManjeet Singh | October 4, 2021
Delhivery is an end-to-end logistics and supply chain services company founded by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati.
According to regulatory documents, the logistics services provider has issued bonus shares to shareholders ahead of filing its draft prospectus with the capital markets regulator.
The company said in filings with the Ministry of Corporate Affairs accessed by ET on Sunday that its extraordinary general meeting (EGM) on September 29 decided to allot 16.8 million bonus shares to equity shareholders in the ratio 9:1.
There are around 90 individuals and entities listed in these documents as recipients of bonus shares.
A proposed initial public offering (IPO) of the company will raise about $1 billion from SoftBank Vision Fund and Carlyle Group Inc in the current fiscal year.
An investment fund established by Lee Fixel, a former partner of New York-based investment firm Tiger Global, has invested $125 million in the company.
An investment of $100 million was received in August from FedEx Express, a strategic investor. An earlier round of investment led by GIC and Fidelity helped the company raise $275 million in June.
Follow Startup Story
Related Posts
