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Delhivery IPO is a book build issue of ₹5,235.00 crores. The issue is a combination of fresh issue of 8.21 crore shares aggregating to ₹4,000.00 crores and offer for sale of 2.54 crore shares aggregating to ₹1,235.00 crores.
Delhivery IPO bidding started from May 11, 2022 and ended on May 13, 2022. The allotment for Delhivery IPO was finalized on May 19, 2022. The shares got listed on BSE, NSE on May 24, 2022.
Delhivery IPO price band is set at ₹487.00 per share . The lot size for an application is 30. The minimum amount of investment required by an retail is ₹13,860 (30 shares). The lot size investment for sNII is 14 lots (420 shares), amounting to ₹2,04,540, and for bNII, it is 69 lots (2,070 shares), amounting to ₹10,08,090.
The issue includes a reservation of up to 4,32,900 shares for employees offered at a discount of ₹25.00 to the issue price.
Kotak Mahindra Capital Co.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Delhivery IPO RHP for detailed Information.
| IPO Date | May 11, 2022 to May 13, 2022 |
| Listing Date | May 24, 2022 |
| Face Value | ₹1 per share |
| Issue Price Band | ₹462 to ₹487 per share |
| Issue Price Final | ₹487 per share |
| Lot Size | 30 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 10,74,97,225 shares (aggregating up to ₹5,235.00 Cr) |
| Fresh Issue | 8,21,37,328 shares (aggregating up to ₹4,000.00 Cr) |
| Offer for Sale | 2,53,59,897 shares of ₹1 (aggregating up to ₹1,235.00 Cr) |
| Employee Discount | ₹25.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 64,23,65,827 shares |
| Share Holding Post Issue | 72,45,18,329 shares |
Delhivery IPO offers total 10,75,17,088 shares. Out of which 8,03,13,142 (74.70%) allocated to QIB, 3,21,25,282 (29.88%) allocated to QIB, 1,60,62,628 (14.94%) allocated to NII, 1,07,08,418 (9.96%) allocated to RII and 4,81,87,860 (44.82%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 8,03,13,142 (74.70%) | NA |
| − Anchor Investor Shares Offered | 4,81,87,860 (44.82%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 3,21,25,282 (29.88%) | NA |
| NII (HNI) Shares Offered | 1,60,62,628 (14.94%) | NA |
| − bNII > ₹10L | 1,07,08,419 (9.96%) | 25,496 |
| − sNII < ₹10L | 53,54,209 (4.98%) | 12,748 |
| Retail Shares Offered | 1,07,08,418 (9.96%) | 3,56,947 |
| Employee Shares Offered | 4,32,900 (0.40%) | NA |
| Total Shares Offered | 10,75,17,088 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Delhivery IPO raises ₹2,346.75 crore from anchor investors. Delhivery IPO Anchor bid date is May 10, 2022. Delhivery IPO Anchor Investors list
| Bid Date | May 10, 2022 |
| Shares Offered | 4,81,87,860 |
| Anchor Portion Size (In Cr.) | 2,346.75 |
| Anchor lock-in period end date for 50% shares (30 Days) | June 18, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | August 17, 2022 |
Delhivery IPO opens on May 11, 2022, and closes on May 13, 2022.
| IPO Open Date | Wed, May 11, 2022 |
| IPO Close Date | Fri, May 13, 2022 |
| Tentative Allotment | Thu, May 19, 2022 |
| Initiation of Refunds | Fri, May 20, 2022 |
| Credit of Shares to Demat | Mon, May 23, 2022 |
| Tentative Listing Date | Tue, May 24, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, May 13, 2022 |
Investors can bid for a minimum of 30 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 30 | ₹14,610 |
| Retail (Max) | 13 | 390 | ₹1,89,930 |
| S-HNI (Min) | 14 | 420 | ₹2,04,540 |
| S-HNI (Max) | 68 | 2,040 | ₹9,93,480 |
| B-HNI (Min) | 69 | 2,070 | ₹10,08,090 |
Delhivery provides a full range of Logistics services, including delivery of express parcel and heavy goods, PTL freight, TL freight, warehousing, supply chain solutions, cross-border Express, freight services, and supply chain software. The company also offers value-added services such as e-commerce return services, payment collection and processing, installation & assembly services, and fraud detection. Delhivery is the largest and fastest-growing fully integrated Logistics services player in India by revenue as of FY21.
The company has proprietary technology systems that enable it to offer integrated Logistics services to a wide variety of customers. Its technology stack consists of over 80 applications for all supply chain processes.
The company has built a nationwide network, servicing 17,045 PIN codes in the six months ended June 30, 2021, or 88.3% of the 19,300 PIN codes in India.
Its 164-network infrastructure includes 124 gateways, 20 automated sort centres, 83 fulfilment centres, 35 collection points, 24 returns processing centres, 249 service centres, 120 intermediate processing centres, and 2,235 direct delivery centres as of June 30, 2021. The company has engineering, data sciences, and product team of 474 professionals. The company served a diverse base of 21,342 active Customers across e-commerce, consumer durables, electronics, lifestyle, FMCG, industrial goods, automotive, healthcare, and retail.
Competitive strengths:
| Particulars | For the year/period ended (₹ in million) | ||||
|---|---|---|---|---|---|
| 31-Dec-21 | 31-Dec-20 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 84,294.83 | 47,847.56 | 45,977.98 | 43,573.08 | 40,625.45 |
| Total Revenue | 49,114.06 | 28,065.29 | 38,382.91 | 29,886.29 | 16,948.74 |
| Profit After Tax | -8,911.39 | -2,974.92 | -4,157.43 | -2,689.26 | -17,833.04 |
The market capitalization of Delhivery IPO is ₹35283.22 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | -67.3 |
The net proceeds from the IPO will be used for below purposes;
[Dilip Davda] With continued losses, its IPO is priced with a negative P/E. Special accounting provisions kept its bottom lines in red for all these years despite growth in top lines. However, considering it's improving adjusted EBITDA margins (from -11.35% for FY19 to -0.72% for 9MFY22) DL is on the verge of turning the corner in the near term. Though its IPO is priced very aggressively, considering its growth plans and bright prospects ahead, this is a pure long term “High Risk – High Yield” bet. Cash surplus/risk seeker well-informed Investors may consider parking of funds. Read detail review...
| Listing Date | May 24, 2022 |
| BSE Script Code | 543529 |
| NSE Symbol | DELHIVERY |
| ISIN | INE148O01028 |
| Final Issue Price | ₹487 per share |
| BSE Listing Group | B |
Delhivery Ltd.
N24-N34, S24-S34, Air Cargo Logistics Centre-II,
Indira Gandhi International Airport,
New Delhi 110037 Delhi, India
New Delhi, New Delhi
Phone: +91 124 6225602
Email: cscompliance@delhivery.com
Website: https://www.delhivery.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: delhivery.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Delhivery IPO is a main-board IPO of 10,74,97,225 equity shares of the face value of ₹1 aggregating up to ₹5,235.00 Crores. The issue is priced at ₹487 per share. The minimum order quantity is 30.
The IPO opens on May 11, 2022, and closes on May 13, 2022.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Delhivery IPO using UPI as a payment gateway. Zerodha customers can apply in Delhivery IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Delhivery IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Delhivery IPO opens on May 11, 2022 and closes on May 13, 2022.
Delhivery IPO lot size is 30, and the minimum amount required for application is ₹14,610.
You can apply in Delhivery IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Delhivery IPO will be done on Thursday, May 19, 2022, and the allotted shares will be credited to your demat account by Monday, May 23, 2022. Check the Delhivery IPO allotment status.
The Delhivery IPO listing date is on Tuesday, May 24, 2022.
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