Tuesday, May 10, 2022

Delhivery raises Rs 2,346 cr from anchor investors as IPO opens today

 Delhivery raises Rs 2,346 cr from anchor investors as IPO opens today

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Planned operations major Delhivery on Tuesday raised Rs 2,346 crore from 64 anchor financial backers. The Gurugram-based firm designated almost 48.2 million offers at Rs 487 each, the upper finish of its IPO cost band. Sources said the anchor book saw almost multiple times more interest than the offers on offer.

Amansa, Goldman Sachs, Aberdeen, Tiger Global, Schroder, and Baillie Gifford were among the anchor financial backers who got a portion.

Seven homegrown common assets (MF) contributed through 15 unique plans. The allocation made to them framed 30% of the anchor book. SBI MF and HDFC MF were among the homegrown assets which got an assignment.

Delhivery's IPO size is Rs 5,235 crore, the second-greatest after LIC this year. The cost band for the IPO is Rs 462 to Rs 487 for every offer. At the top-end, Delhivery will have a market cap of Rs 35,284 crore on a post-weakened premise.

The organization's IPO opens on Wednesday and closes on Friday.

Delhivery is hoping to raise Rs 4,000 crore of new capital through the IPO. The excess Rs 1,235 crore will be a proposal available to be purchased (OFS) for financial backers, which incorporates private value firms Carlyle and Softbank.

Delhivery plans to raise Rs 2,000 crore of issue continues for subsidizing natural development drives, for example, increasing existing and contiguous business lines. It will utilize Rs 1,000 crore continues for financing inorganic development. In the beyond five years, the organization has embraced over about six key partnerships and acquisitions to spike development....READ MORE

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