Delhivery IPO today: GIC, Tiger Global, Steadview Capital among 64 anchor investors

Delhivery

The anchor portion of the IPO of logistics and supply chain startup Delhivery, which launches today, has as many as 64 investors, including several high-quality FPIs, multiple sources with knowledge of the matter told Moneycontrol.

"The anchor portion is for around Rs 2,400 crore and includes prominent investors such as GIC, Tiger Global Investments, Steadview Capital Master Fund, Omers Capital Markets Asia Holdings, Schroeder International Selection Fund and Goldman Sachs Funds," said one of the persons cited above.

A second person added, "Vaneck Funds, Fidelity, Aberdeen, Baillie Gifford Pacific Fund, Amansa Holdings Pvt Ltd and others are also there."

He added that some of the India-focused funds included Bay Capital, Jupiter India Fund, and Ashoka India opportunities fund.

A third person familiar with the Delhivery IPO said that ICICI Prudential Flexicap Fund,  HDFC large and mid cap fund and entities from SBI, IDFC and IIFL were also part of the anchor investor list.

All the three persons cited above spoke to Moneycontrol on condition of anonymity.

Moneycontrol couldn't connect with Delhivery or the investors for immediate comment.

Delhivery cut the size of the IPO to Rs 5,235 crore from Rs 7,460 crore planned earlier. It will raise Rs 4,000 crore via a fresh issue of shares. The offer for sale by existing shareholders is expected to fetch Rs 1,235 crore.

Proceeds from the issue will fund the company's organic and inorganic growth initiatives via acquisitions and other strategies.

Kotak Mahindra Capital, Morgan Stanley India, BofA Securities India, and Citigroup Global Markets are managing the share sale.