Delhivery is among the leading new age supply chain and logistics chains in India. This Gurgaon-based company converted itself into a private limited company right before filing its initial draft papers. Notably, this is a crucial mandate laid down by SEBI that companies must follow before getting listed on stock exchanges.
Here’s more on this recent development.
Delhivery’s Privatisation and the Road Ahead!
Per the regulatory filings sourced from Tofler, post-privatisation Delhivery Private Ltd is now Delhivery Ltd. to meet the perquisites of floating its shares.
Delhivery intends to raise nearly $1 billion through its initial public offer. The company intends to carry out the same by the end of this current fiscal year. Sources suggest that the initial public offer could be carried out between this December and upcoming March.
Delhivery’s Pre-IPO Formalities: The Road So Far
These logistics conducted an extraordinary general meeting 29 September 2021. This meeting decided to allot around 16.8 million bonus equity shares to company shareholders in a 9:1 ratio. Accordingly, 90 entities and individuals are listed as recipients. Besides these, the company is realigning its capitalisation before filing its draft red herring prospectus.
In its regulatory filing, Delhivery stated that it is looking to adjust compulsorily convertible preference shares in 10:1. The break-up is highlighted as:
- 10 equity shares of Rs. 10 apiece
- 1 compulsorily convertible preference share of Rs. 100 apiece by shareholders.
This follows the day after Delhivery issued bonus equity shares to its shareholders.
Recent Investment and Disinvestment of Delivery: At a Glance
Fosun International disinvested a portion of its Delhivery stake to Addition and Bay Capital, valuing this company at nearly $4.2 billion.
Also, Fixel had invested around $125 million through its fund. Delhivery managed to raise $100 million from FedEx Express, its strategic investor, this August. This decade-old firm also raised $275 million from its investors, including GIC and Fidelity.
Delhivery also counted the likes of Times Internet, Nexus Venture Partners, Tiger Global, and CPPIB as its shareholders.
Frequently Asked Questions
- When will Delhivery file its DRHP?
Delhivery has not announced any tentative date for filing its initial draft papers.
- What will be the composition of Delhivery IPO?
The composition of Delivery’s initial public offering will be stated in its draft papers.
- When will Delhivery IPO go live?
It is expected that this company’s IPO will be carried out between December 2021 and March 2022.