SEBI approves Delhivery’s IPO

SEBI has approved the Rs 7,460-crore IPO of the logistic and e-commerce supply chain company, Delhivery. Delhivery is a Gurugram based logistic startup and also the first startup to receive the title of a unicorn this year as well. 

The company has mentioned in its draft red herring prospectus filed in November that it plans to raise Rs 5,000 crore with the fresh insurance of shares with an offer sale for IPO where some of its existing investors will sell a part in their holdings.

Carlyle, Times Internet, and Japan’s SoftBank were listed as the selling shareholders in the draft red herring prospectus. The company was seeking a valuation of $6-6.5 billion for its listing at the time of its DHRP. The company has benefited a lot from the continuous growth of e-commerce in India ever since the breakdown of the pandemic.

Delhivery also made an investment in Falcom Autotech, earlier this month as its strategy to invest in future-ready hardware solutions in its operations. It has also previously acquired Spoton Logistics for a $300 million all-cash deal to strengthen its B2B vertical. Delhivery also acquired California based Transition Robotics Inc.