- Advertisement -
HomeAutoDelhi's IPO will open next Wednesday, know how much will be available...

Delhi’s IPO will open next Wednesday, know how much will be available in shares

New Delhi: Logistics startup Delhi has fixed the price band for its Rs 5,235 crore IPO at Rs 462-487 per share. The company said that the IPO will open on May 11 and close on May 13. The bidding for anchor investors will open on May 10. The size of the IPO has now been reduced to Rs 5,235 crore from Rs 7,460 crore earlier. In this issue, new equity shares worth Rs 4,000 crore will be issued and existing shareholders will make an offer for sale (OFS) of Rs 1,235 crore.

Under the OFS, investors Carlyle Group and co-founders of SoftBank and Delhivery will sell some of their stake in the logistics company. This logistics company of the e-commerce sector serves 17,045 locations in the country. The recent IPOs of Rainbow and Campus have received good response from investors. Excited by this, Delhi has decided to launch an IPO. The success of the recent IPO has also boosted the confidence of investment bankers.

Small companies scared of LIC’s mega IPO, postponed their plans, know what is the matter
OFS portion deducted
According to RHP, the company has reduced its OFS share to Rs 1235 crore from the earlier Rs 2460 crore. Private equity investors like Carlyle have reduced their OFS share to Rs 454 crore from the earlier Rs 920 crore. At the same time, SoftBank has reduced its share to Rs 365 crore from the earlier Rs 750 crore. Kotak Mahindra Capital, Morgan Stanley, BofA Securities and Citigroup are the BRLMs of the issue.

Domestic and foreign startups will hire 200 top executives in 12 months!
where will the amount be used
According to the company, out of the proceeds of the IPO, Rs 2,000 crore will be used to finance the organic growth initiative. This includes expanding existing business, developing new business lines, expanding network infrastructure, and improving and upgrading logistics operating systems. In addition, the company will use around Rs 1,000 crore to finance in-organic growth opportunities through acquisitions and other strategic initiatives.

You can read the stories of Economic Times for excellent articles related to more than 20 sectors of business and in-depth information related to the industry. Click here to read the informative information of Economic Times.

Editorial
Editorialhttps://www.newsncr.com
Newsncr.com latest publishes news from the automobile, investment, real estate, technology, and related sectors. But in addition to that, we also cover lifestyle topics, like fashion, food, travel, and health. Along with all these, we also keep an eye on rising topics like cryptocurrency, startups, venture capital.
- Advertisement -
Must Read
- Advertisement -
Related News
- Advertisement -