DELHIVERY IPO |
| Credit: Franchise India |
ABOUT THE COMPANY
• Delhivery is the largest and fastest growing fully integrated logistics services player in revenue as of FY21
• It provides a range of logistics services, including delivery of express parcel and heavy goods, PTL freight, warehousing, supply chain solutions etc.
• The company also offers value-added services such as e commerce returns, payment collection, processing, installation &assembly services and fraud detection
DETAILS ABOUT IPO
• Delhivery IPO opened on May 11, 2022 and closed on May 13, 2022. Allotment will be done on May 19, 2022
• Initiation of refunds will be done on May 20, 2022. Credit of shares to demat will be done on May 23, 2022. The listing date of Delhivery IPO is May 24, 2022
• The delhivery IPO lot size is 30 shares. A retail-individual investor can apply for upto 13 lots (390 shares)
• Delhivery's IPO has managed to garner full subscription despite challenging market conditions
• The institutional investor portion of the issue was subscribed for nearly two times crossing the threshold
• Amansa, Goldman Sachs, Aberdeen, Tiger Global, Schroder and Baillie Gifford were amonga few anchor investors who got an allotment
• Mutual funds subscribed to 30% of shares. SBI MF and HDFC MF were among the domestic funds who got an allotment
REASONS FOR FULL SUBSCRIPTION
• Delhivery is valued at 2.4 times FY24 EV/SALES. This is an attractive valuation when compared to its peers
• At the top-end, Delhivery will have a market cap of INR 35,284 Crore on a post diluted basis. Through the IPO the company is looking to raise 4000 crore of fresh capital
• It's adjusted EBITDA margins are improving (from -11.35% for FY19 to -0.72% for 9MFY22.), and due to this, its on verge of turning the corner in near term
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