SoftBank-Backed Logistics Startup Delhivery Files For Rs 7,460 Crore IPO
NDTV
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 that have tapped the capital market this year.
Bengaluru: 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 that have tapped the capital market this year.
In India, 157 companies including TPG-backed Nykaa and SoftBank-backed Paytm, Oyo Hotels and Rooms and online insurance aggregator Policybazaar have raised $17.22 billion via IPOs this year as of October 31, compared with the $8.54 billion raised by 49 companies in the same period last year, according to Refinitiv data.
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 a copy of its draft herring prospectus dated November 1.
Delhivery competes with DHL's unit Blue Dart Express Ltd and DTDC India in the $150 billion domestic logistics sector, which contributes about 14% to the country's gross domestic product, according to the government's Logistics Skill Council.
