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Delhivery gets approval from Sebi to file IPO

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Delhivery, has finally got a nod of approval from Sebi (Securities and Exchange Board of India) to file an IPO and raise Rs.7,460 crore.

The IPO will comprise fresh equity shares of  Rs.5,000 crore and an offer for sale (OFS) component of Rs.2,460 crore by existing shareholders, according to the red herring draft prospectus. Under the OFS, investors Carlyle Group and SoftBank as well as Delhivery’s co-founders will divest their shareholding in the logistics company.

At present, Soft SoftBank owns a 22.78 % stake, Carlyle has a 7.42 % stake and China Momentum Fund has a 1.11 % stake in the logistics company.

In addition to this, Delhivery’s co-founders – Kapil Bharati, Mohit Tandon and Suraj Saharan– will sell shares worth Rs.14 crore, Rs.40 crore and Rs.6 crore, respectively.