Delhivery to launch its IPO on May 11 

According to the information provided by

Indian Stock Exchange (BSE/NSE),

the initial share sale of logistics company Delhivery will begin on May 11. According to media reports, the issue size has been reduced to Rs 5,235 crores due to market volatility and uncertain geopolitical conditions.

The company is aiming to raise Rs 7,460 crore through the initial public offering. The IPO includes the fresh issue of equity up to Rs 4,000 crore and an offer for the sale of shares aggregating up to Rs 1,235 crore. 

Reissue revenues will be used to fund organic growth initiatives, inorganic growth through acquisitions and other strategic initiatives, and for general corporate purposes.

Kotak Mahindra Capital, Morgan Stanley India, Bofa Securities India, and Citigroup Global Markets

are leading the Delhivery IPO. Delhivery operates a pan India network and provides services to 17,045 Postal Index Number Codes as of June 30, 2021.

It provides a diverse base of 21,342 active customers, including

e-commerce marketplaces, direct-to-consumer e-tailers and enterprises, and SMEs

in several verticals like FMCG, Consumer Durables, Consumer Electronics, Lifestyle Retail, Automotive, and Manufacturing.