Delhivery raises Rs 2,347 crore ahead of IPO

Unicorn in logistics On Tuesday, a day before its shares open for bidding on May 11 as part of its initial public offering, Delhivery raised Rs 2,347 crore from 64 anchor investors, a mix of marquee domestic and international investors (IPO).

The anchor investors received 48 million shares at a price of Rs 487 per share, which is the top of the company’s IPO range of Rs 462-487. The IPO, which will end for subscription on Friday, May 13, aims to collect Rs 5,235 crore for Delhivery.

The public listing of Delhivery comes at a difficult moment, as such new-age enterprises have received mixed reviews. Nykaa, PolicyBazaar, Paytm, Zomato, and Freshworks, among the other businesses that went public last year, have all seen their share prices plummet, with several now trading at less than their issue price.

For the nine months ended December 2021, Delhivery recorded revenue of Rs 4,911 crore and a loss of Rs 891.14 crore.

Leave a Comment