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

After Moglix, Flipkart CEO Kalyan Krishnamurthy bets big on UrbanClap

Company News

Flipkart Chief Executive Officer (CEO) Kalyan Krishnamurthy has put Rs 1.6 crore in UrbanClap, the Gurugram-based home services start-up, company filings sourced from business intelligence platform paper.vc showed.

Krishnamurthy, a former Tiger Global top executive, will also act as an advisor to UrbanClap, a source with direct knowledge of the development said.

In March, Krishnamurthy had invested in B2B e-commerce firm Moglix in a similar fashion. It is not immediately clear whether the investments are a precursor to potential business partnerships between Flipkart and either of Krishnamurthy’s investee companies, but the new deal lays bare his strategy to back companies with a proven e-commerce track records.

UrbanClap declined to comments for the story while Krishnamurthy could not be immediately reached for his comments.

Company filings dated April 5 showed, Krishnamurthy was allotted 310 equity shares in Urbanclap Technologies India for Rs 51,551 apiece. The investment is part of the firm’s $50 million series D round that closed in November, according to the source cited above. The said round was led by Steadview Capital and Vy Capital.

“We believe that UrbanClap is likely to raise a massively large round at a premium equal to or higher than the 51K that Kalyan paid," said Vivek Durai, founder of paper.vc. “UrbanClap is in a small tier of venture-backed start-ups that have displayed conventionally great financial performance.

 FY18 numbers show a 14% reduction in losses and a 225% increase in revenue. There is no reason to believe that graph will not continue into 2019.”...Read More