Logistics company Delhivery’s Initial Public Offer (IPO) received a muted response amid widespread weakness in the markets. Supply chain company Delhivery’s initial share sale was subscribed just 23% on the second day of the offer on Thursday.
According to NSE data, the IPO received bids for 1,45,01,730 shares, while 6,25,41,023 shares were offered. The portion reserved for retail individual investors (RIIs) got 40% membership, while the qualified institutional buyers segment (QIBs) got 29% and non-institutional investors 1%.
IPO involves fresh issue of equity 4,000 crore and an offer for total sale of shares 1,235 crores.
Under the OFS, investors will sell their stake in the logistics company co-founded by Delhivery, along with Carlyle Group and SoftBank.
According to the draft papers, CA Swift Investments, a unit of Carlyle Group, will sell the shares to the tune of Rs. 454 crore, SVF Doorbell (Cayman) Ltd., a branch of SoftBank Group, will sell shares worth Rs. 365 crore, Daily CMF Pte Ltd, a wholly owned subsidiary of private equity fund China Momentum Fund, will sell shares worth LP Will sell 200 crore more Times Internet shares 165 crores.
The e-commerce logistics company operates a pan-India network and provides services to 17,045 Postal Index Number (PIN) codes as on June 30, 2021.
It provides supply chain solutions to a diverse base of 21,342 active customers, such as e-commerce marketplaces, direct-to-consumer e-tailers and enterprises and SMEs across multiple verticals such as FMCG, consumer durables, consumer electronics, lifestyle, retail, automotive in. and manufacturing.