HomeBusinessdelhivery ipo: Sebi green lights Delhivery’s Rs 7,460 crore IPO proposal

delhivery ipo: Sebi green lights Delhivery’s Rs 7,460 crore IPO proposal

The Securities and Exchange Board of India (Sebi) is learnt to have accepted the proposed Rs 7,460-crore initial public offering (IPO) of Delhivery, individuals conscious of the matter instructed ET.

This makes the Gurugram-based new-age logistics startup the primary unicorn this yr to have obtained the inventory market regulator’s nod to checklist on home bourses.

SoftBank and Carlyle-backed Delhivery,
in its draft red herring prospectus (DRHP) filed in November, had stated it deliberate to boost Rs 5,000 crore by means of contemporary issuance of shares whereas the IPO can have a suggestion on the market (OFS) part of Rs 2,460 crore the place a few of its present buyers will promote a part of their holdings.

Besides Carlyle and Japan’s SoftBank Vision Fund, Times Internet was listed amongst promoting shareholders within the DRHP. Times Internet is a part of the Times Group, which publishes The Economic Times. Kapil Bharati, Mohit Tandon and Suraj Saharan—who’re among the many 5 founders of Delhivery—are additionally listed to promote shares by means of the IPO.

ETtech

A Delhivery spokesperson didn’t reply to ET’s question for a touch upon the Sebi nod until press time Friday.
At the time of its DRHP submitting, the corporate was in search of a valuation of round $6-6.5 billion for its itemizing, as ET had reported.

Delhivery has been one of many largest beneficiaries of the exponential development of ecommerce within the nation because the outbreak of Covid-19. It is among the largest unbiased logistics startups with presence throughout the nation.

Earlier this month,
Delhivery made an investment in Falcon Autotech, a Noida-based maker of warehousing automation merchandise. This is a part of its technique to put money into “future-ready” {hardware} options in its operations. The logistics startup
had previously acquired Spoton Logistics in a $300 million all-cash deal to strengthen its business-to-business (B2B) vertical, as reported by ET. In December final yr, it additionally
acquired California-based drone startup Transition Robotics Inc.

Also Read:
ETtech IPO Watch: A decade of Delhivery

The firm had reported a income of Rs 3,646.5 crore for 2020-21, up from Rs 2,780 crore in FY20. Its internet loss was at Rs 415.7 crore final fiscal in opposition to nearly Rs 269 crore within the earlier yr. For the quarter ended June 2021, Delhivery’s income was at Rs 1,317 crore with a lack of over Rs 129 crore.

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