UPDATE: SoftBank-Backed Logistics Startup Delhivery Files For Rs 7,460 Crore IPO

<!–

–>

Bengaluru: SoftBank Group-backed Indian logistics firm Delhivery has filed for an initial public offering of up to Rs 7,460 crore ($997.33 million), joining a long list of startups that have tapped the capital market this year.

In India, 157 companies including TPG-backed Nykaa and SoftBank-backed Paytm, Oyo Hotels and Rooms and online insurance aggregator Policybazaar have raised $17.22 billion via IPOs this year as of October 31, compared with the $8.54 billion raised by 49 companies in the same period last year, according to Refinitiv data.

The IPO will consist of a fresh issue of shares worth Rs 5,000 crore and an offer for sale of shares worth Rs 2,460 crore, according to a copy of its draft herring prospectus dated November 1.

Delhivery competes with DHL’s unit Blue Dart Express Ltd and DTDC India in the $150 billion domestic logistics sector, which contributes about 14% to the country’s gross domestic product, according to the government’s Logistics Skill Council.

Kotak Mahindra Capital, Morgan Stanley India, BOFA Securities and Citigroup are the bookrunning lead managers for the IPO.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

Source link

About rudro

Check Also

UPDATE: ArcelorMittal Raises Share Buyback Plan By $1 Billion

<!– –> ArcelorMittal has recorded good numbers in its third quarter financial results ArcelorMittal, the …

Leave a Reply

Your email address will not be published. Required fields are marked *