Delhi raises a lot of Rs 2,347 crore from 64 anchor investors before the IPO

Bombay: Logistics and supply chain start Delhivery raised Rs 2,347 crore from 64 anchor investors ahead of its initial public offering (IPO), which opens for subscriptions on Wednesday 11 May.

About 48 million shares have been allotted to anchor investors at Rs 487 a piece, as the upper end of the price range for the IPO, according to investment bankers.

Some of the foreign investors who participated in the anchor share award were Global tiger, capital of the bay, constant sightFidelity, Baillie Gifford, Schroders, Amansa, Aberdeen Standard Life,

Government Pension Fund Global and Invesco HK, bank sources said.

Approximately 14.59 million shares were allotted to seven domestic mutual funds such as,,, Franklin Templeton, Invesco, Nippon and Mirae.

Delhivery’s public issue of Rs 5,235 crore will close for subscription on Friday May 13th. The price range of the offer was set from Rs 462 to Rs 487 per share. Bids can be made for a minimum of 30 shares and subsequently multiples of 30 shares.

The offering includes a new issue of shares aggregating up to Rs 4,000 crore and an offer to sell by certain shareholders of existing companies aggregating up to Rs 1,235 crore.

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Some of the domestic intermediaries have recommended signing up for Delhivery’s IPO.

“We believe Delhivery’s asset light business model and its cutting-edge engineering and automation capabilities and its new age technologies will help the company leverage its operational efficiencies and improve profitability in the coming years,” said Yes. Securities in a note.

Delhivery will use Rs 2,000 crore from the proceeds of the issue to fund organic growth initiatives such as building scale in existing business lines, developing adjacent new business lines, expanding the network infrastructure and upgrading and upgrading. improvement of our proprietary logistics operating system. Rs 1,000 crore for financing inorganic growth opportunities through acquisitions and other strategic initiatives.

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