According to investment bankers, around 48 million shares were allotted to anchor investors at Rs 487 per piece as the upper end of the price band for the IPO.
Some of the foreign investors participating in the anchor share allocation include Tiger Global, Bay Capital, Steadview, Fidelity, Bailey Gifford, Schroders, Amansa, Aberdeen Standard Life,
Government Pension Fund Global and Invesco HK, banking sources said.
About 14.59 million shares were allotted to seven domestic mutual funds namely , , Franklin Templeton, Invesco, Nippon and Mirae.
Delhi’s Rs 5,235 crore public issue will close for subscription on Friday, May 13. The price band of the offer has been fixed at Rs 462 to Rs 487 per share. Thereafter bids can be made for a minimum of 30 shares and multiples of 30 shares.
The offer includes fresh issue of shares up to Rs 4,000 crore and offer for sale up to Rs 1,235 crore by some existing shareholders of the company.
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Some domestic brokerage firms have recommended subscribing to the Delhivery IPO.
Yes Securities said in a note, “We believe that Delhivery’s asset light business model and its state-of-the-art engineering and automation capabilities and its new-age technology will enable the company to leverage its operational efficiencies and improve profitability in the years to come. will help to do so.”
Delhivery will use Rs 2,000 crore from the issue to fund organic growth initiatives, such as building scale in existing business lines, developing new adjacent business lines, expanding network infrastructure, and upgrading our proprietary logistics operating system and improve. In addition, it will use around Rs 1,000 crore to finance inorganic growth opportunities through acquisitions and other strategic initiatives.
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