Delhivery files for $998M IPO
Gurugram-based logistics unicorn Delhivery recently filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company seeks to raise about $998 million through its initial public offering (IPO).
According to the DRPH, Delhivery’s IPO will consist of the fresh issuance of shares worth $669 million. Furthermore, it will also feature a secondary sale of shares by existing stakeholders like Carlyle, Fosun, SoftBank Vision Fund and Times Internet.
US-based private equity firm Carlyle will, reportedly, liquidate shares worth $100 million and Fosun may be exiting entirely via the offer for sale (OFS) process. SoftBank Vision Fund will be selling shares amounting to $100 million and Time Internet $50 million.
Since its inception in 2011, Delhivery has functioned as a logistics and supply chain service company. The Delhivery team has fulfilled more than 1 billion orders to over 525 million households across India. The company counts Tiger Global, Times Internet, CPPIB, Nexus Venture Partners and Additions as shareholders.
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