The portion of the issue reserved for Non- Institutional Investors (NII) has been bid on 0.01 times, while the shares reserved for employees of the company have been booked 0.04 times
The public issue of supply chain company Delhivery has opened for subscription today, 11 May. The shares of the company have been subscribed 0.25 times by retail investors, according to data from BSE.
The portion of the issue reserved for Non- Institutional Investors (NII) has been bid on 0.01 times, while the shares reserved for employees of the company have been booked 0.04 times.
The initial public offering of the company will remain open till 13 May. With a face value of Re 1, the shares have been priced in the range of Rs 462.00 – 487.00. The 5,235 crore IPO comprises of Rs 4,000 crore of a fresh issue as well as an Offer for Sale (OFS) of Rs 1,235 crore.
Out of the proceeds of the fresh issue, Rs 2,000 crore will be used for funding organic growth initiatives, while Rs 1,000 crore will be used towards inorganic growth through strategic initiatives like acquisitions. Money from the fresh issue will also be utilised for general corporate purposes.
Under the OFS, Softbank, Carlyle Group and Delhivery’s co-founders Kapil Bharati, Mohit Tandon and Suraj Saharan will divest their shareholding in the company.
Investors can bid for a minimum of 30 shares. One lot of shares will cost the bidder Rs 14,610, considering the upper price band limit. Retail investors can bid for a maximum of 13 lots in the public issue. A discount of Rs 25 per equity share is available to eligible employees.
Kotak Mahindra Capital Company, BoFA Securities India Limited, Morgan Stanley India Company Private Limited and Citigroup Global Markets India Private Limited are the book running lead managers, while the registrar is Link Intime.
According to the Draft Red Herring Prospectus, 75 percent of the issue has been reserved for Qualified Institutional Buyers (QIB), while 10 percent has been set aside for retail investors. The remaining 15 percent has been reserved for NIIs.
Delhivery offers a full range of e-commerce logistics services including warehousing, supply chain solution, heavy goods delivery, express parcel delivery, cross-border express and freight services and so on. The Gurugram-based company will list its shares on BSE and NSE on 24 May.