Delhivery issues bonus shares ahead of filing DRHP

Last month, Delhivery announced an investment of $125 million (about 920 crore) from Lee Fixel's venture capital firm Addition. Lee has been investing and reinvesting in the company since 2015.

Logistics firm Delhivery has issued bonus shares to shareholders through a resolution passed in the Extraordinary General Meeting (EGM) held on September 29.

Ahead of filing its draft prospectus, the IPO-bound company has decided to allot 16.8 million bonus shares to equity shareholders in the ratio of 9:1, a report in The Economic Times said.

Citing regulatory filing, the report added that 90 shareholders are listed as recipients of the bonus issue. “…1,68,46,803 shares of Rs 10 each fully paid up with distinctive numbers: from 18,71,868 to 1,87,18,670 bonus shares (will be allotted) to the existing equity shareholders of the company, whose names appear in the register of members of the Company as on September 28, 2021,” it said.

Furthermore, the company is also looking to adjust its compulsorily convertible preference shares (CCPS) in 10:1, 10 equity shares of Rs 10 each for one CCPS of Rs 100, it added.

The addition is the latest global fund to invest in the company, following earlier rounds from other marquee global investors.

Last month, the company announced an investment of $125 million (about 920 crore) from Lee Fixel's venture capital firm Addition. Lee has been investing and reinvesting in the company since 2015.

In addition founder Lee Fixel said Delhivery has established a market-leading position by innovating across the logistics space and has attracted several marquee investors.

Besides Addition, it includes names like SoftBank Vision Fund, Tiger Global Management, Times Internet, The Carlyle Group, and Steadview Capital on its captable.

It reported a loss of Rs 284 crore during the financial year 2019-2020. It came down from Rs 1,781 crore in the financial year 2018-2019. The revenue increased by 74 percent to Rs 2,986.4 crore during the financial year 2020.

Last month, it also acquired Bengaluru-based Spoton Logistics, a move aimed at further strengthening its B2B capabilities.