Bangalore: SoftBank Group-backed Indian logistics firm Delhivery has filed for an initial public offering of up to Rs 7,460 crore ($997.33 million), joining a long list of startups to tap the capital market this year.
In India, 157 companies, including TPG-backed Nykaa and SoftBank-backed Paytm, OYO Hotels & Rooms and online insurance aggregator PolicyBazaar, have raised $17.22 billion through IPOs this year, while $8.54 billion has been raised by 49 companies. Last year’s period, according to Refinitiv data.
According to a copy of the draft herding prospectus dated November 1, the IPO will consist of a fresh issue of shares worth Rs 5,000 crore and an offer for sale of shares worth Rs 2,460 crore.
According to the government’s Logistics Skills Council, Delhivery competes with DHL’s unit Blue Dart Express Ltd and DTDC India in the $150 billion domestic logistics space, which contributes around 14% to the country’s GDP.
Kotak Mahindra Capital, Morgan Stanley India, BofA Securities and Citigroup are the Book Running Lead Managers for the IPO.
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