Delhivery IPO to open on May 11

Delhivery, the popular logistics service provider and supply chain startup,

has informed that it has fixed the price band for its initial public offering (IPO) at Rs 462-487 per share. The issue of the company will open for subscription on Wednesday, May 11, and can be subscribed till Friday, May 13.

The supply chain startup

has reduced its offer size to Rs 5,235 crore from Rs 7,460 crore as proposed earlier. Now, it will issue fresh equity shares worth Rs 4,000 crore and existing shareholders and promoters will sell shares worth Rs 1,235 crore.

Other than this, China Momentum Fund

will sell shares up to Rs 200 crore via its affiliate Deli CMF. The OFS will consist of up to Rs 454 crore by CA Swift Investments, up to Rs 365 crore by SVF Doorbell, and up to Rs 165 crore by Times Internet.

Additionally, the Gurugram-based logistics company

has allocated shares worth Rs 20 crore to eligible employees, who can avail of a discount of Rs 25 per equity share during the bidding process. If talking about revenue, Delhivery is the largest fully integrated logistics services player in India. It has an extensive network in every state in India.