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Delhivery IPO may open on May 11, close on May 13; issue size reduced to Rs 5,235 crore

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

May 02, 2022 / 11:14 PM IST
Representative Image

Representative Image

The initial public offering (IPO) of Delhivery Ltd, a logistics and supply chain startup, is likely to open for subscription on May 11 and close on May 13, two senior bankers told Moneycontrol.

The basis for allotment will be on May 19 and the shares will be credited to the demat account on May 23. The firm will list on exchanges on May 24, the first banker said on condition of anonymity.

The firm has cut its total issue size to Rs 5,235 crore from Rs 7,460 crore planned earlier. It will now raise Rs 4,000 crore via the fresh issue and Rs 1,235 crore through an offer for sale (OFS), the second banker said on condition of anonymity.

Fosun group-owned China Momentum Fund, via its affiliate Deli CMF Pte Ltd, will sell up to Rs 200 crore. The OFS will comprise up to Rs 454 crore by CA Swift Investments, up to Rs 365 crore by SVF Doorbell Ltd, and up to Rs 165 crore by Times Internet.