Following the footsteps of start-ups like Nykaa, Paytm and Zomato, Delhivery – a logistics solutions providing start-up – recently filed its Draft Red Herring Prospectus with SEBI to raise INR 7,460 crore comprising of INR 5,000 crore via issue of fresh shares and INR 2,460 crore via offer of sale. According to Reuters, the company is seeking a USD5.5 billion valuation.
Key investors to dilute their holdings include Carlyle (INR 920 crore), China Momentum Fund (INR 400 crore), SoftBank Vision Fund (INR 750 crore), Times Internet (INR 330 crore) and individual shareholders Kapil Bharati, Mohit Tandon and Suraj Saharan.
Delhivery provides e-commerce grade solutions in ~17,000 pin codes throughout India to e-commerce marketplaces, D2C e-tailers, SMEs and others, across multiple verticals. It’s game-plan includes wielding the proceeds of the fresh issue towards organic growth initiatives like scaling up existing verticals and expanding its network infrastructure with new warehouses and automated supply chain centers. There is also a vision of inorganic growth worth INR 1,250 crore via acquisitions and strategic initiatives.
Being competitor to companies like BlueDart and DHL, Delhivery reported its total income to be INR 1,364 crore as of June 30, 2021. Its operational activities span over express parcel delivery, heavy goods delivery, warehousing and cross-border express and freight services, among others.