IPO: Delhivery gets regulatory approval to raise IPO of Rs 7,460 cr

The capital markets regulator Securities and Exchange Board of India (Seb)i has given approval to Delhivery company to raise Rs 7,460 crore through its initial public offering (IPO). According to the draught red herring prospectus, the IPO will include a fresh issuance of equity shares worth Rs 5,000 crore and an offer for sale (OFS) component worth Rs 2,460 crore from existing shareholders.

Carlyle Group and SoftBank, and Delhivery's co-founders, will divest their shares in the logistics company under the “Offer for Sale” (OFS). According to an update with the regulator on Tuesday, the company, which submitted its preliminary IPO papers with Sebi in November, received its observations letter on January 13.

According to the draught papers, Carlyle Group's CA Swift Investments will sell shares worth Rs 920 crore, Softbank Group's SVF Doorbell (Cayman) Ltd will sell shares worth Rs 750 crore, Deli CMF Pte Ltd, a wholly-owned subsidiary of private equity firm China Momentum Fund, L.P. will sell shares worth Rs 400 crore, and Times Internet will sell shares worth Rs 330 crore.

Kapil Bharati, Mohit Tandon, and Suraj Saharan, Delhivery's co-founders, will also sell shares worth Rs 14 crore, Rs 40 crore, and Rs 6 crore, respectively.

India is on track to meet USD 650-bn export target in 2021-22: Piyush Goyal

India's overall economic activity remains strong: RBI

Sri Lanka's economy is expected to grow by 5.5% in 2022: Reports

- Sponsored Advert -

Most Popular

- Sponsored Advert -