Delhivery IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 16, 2022In this article, we will guide you through all the essential components related to the Delhivery IPO.
This article comprises all the details, analysis that will give you a detailed understanding of the operations of Delhivery, its background, its products and services, its financial status & more.
You will also find the objectives to be accomplished with the Initial Public Offering, the profitability of the proposed IPO, allotment status, grey market premium, share quantum, share price, listing date, and other factors incidental thereto.
Also, the Delhivery IPO Review will help you in deciding whether it is a good investment prospect or not.
| Face Value | Rs 1 |
| Price Band | Rs.462 to Rs.487 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 30 Shares |
| Listing Date | May 24, 2022 |
| Offer for Sale | Rs.1235 Crore |
| Fresh Issue | Rs.4000 Crore |
| IPO Size | Rs.5235 Crore |
| Tick Size | 1 |
Delhivery IPO Overview
One of the largest and fastest-growing logistic service providers, Delhivery is coming up with its IPO.
Here, we have summed up every detail that you are required to know to decide how prospective the Delhivery IPO is.
From its financials to background to reviews by the top brokers, we have answers to all your questions in respect of this Delhivery IPO.
Investors can place their bids for the allotment via the ASBA process.
Delhivery IPO Important Dates
| Events | Date |
| IPO Opening Date | May 11, 2022 |
| IPO Closing Date | May 13, 2022 |
| Basis of Allotment Finalization | May 19, 2022 |
| Refunds Initiation | May 20, 2022 |
| Credit of Shares to Demat Account | May 23, 2022 |
| Share Listing Date | May 24, 2022 |
The opening and closing Delhivery IPO Dates are yet to be announced. The entity has gained approval from SEBI for its DRHP and has issued an observation letter in respect of the same on January 13.
Dates have a great significance on the success of the IPO. The right or wrong date can inflict a large impact.
IPO date means the date on which registration statements are filed by the entity in respect of the IPO.
Delhivery IPO Price, Size, Share Offerings
| Face Value | Rs.1 |
| Price Band | Rs.462 to Rs.487 |
| Offer for Sale | Rs.1235 Crore |
| Fresh Issue | Rs.4000 Crore |
| IPO Size | Rs.5235 Crore |
With SEBI approval, the Gurugram-based company, Delhivery is gearing up to raise Rs.5235 crores with their upcoming IPO.
Out of which, shares worth Rs.4000 crores will be raised by way of Fresh Issue, and the rest shares worth Rs.1235 crores will be raised by an Offer for Sale.
The price band Delhivery IPO yet to be decided.
Delhivery IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| 24 May 2022 | (Rs.10) | NA | NA |
| 23 May 2022 | (Rs.5) | NA | NA |
| 21 May 2022 | (Rs.5) | NA | NA |
| 20 May 2022 | (Rs.5) | NA | NA |
| 18 May 2022 | (Rs.5) | NA | NA |
| 17 May 2022 | NA | NA | NA |
| 16 May 2022 | NA | NA | NA |
| 13 May 2022 | NA | NA | NA |
The Grey market is the market where the stocks are traded unofficially. It is not illegal but since the market is unofficial, there exist no rules and regulations, and is not regulated by the regulators.
Grey Market Premium is the price at which stocks are traded in the Grey Market.
Grey market is also seen as a yardstick to foresee the performance of the stock after it will be listed on the mainboard.
Delhivery IPO Grey Market Premium, as per various reports from sources the IPO is potential and is likely to have a positive GMP.
Delhivery IPO Subscription Status
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – 11th May | 0.29x | 0.01x | 0.30x | 0.06x | 0.21x |
| 2nd Day – 12th May | 0.29x | 0.01x | 0.40x | 0.12x | 0.23x |
| 3rd Day – 13th May | 2.66x | 0.30x | 0.57x | 0.27x | 1.63x |
| Shares Offered or Net Issue | 33,863,662 | 16,931,818 | 11,287,878 | 457,665 | 62,541,023 |
Delhivery IPO Live Subscription will be updated as soon as the IPO is listed. The company has obtained approval from the Securities and Exchange Board of India (SEBI) for its DRHP.
The Lead Managers of the issue are:
- Kotak Mahindra Capital Company Limited
- Morgan Stanley India Company Private Limited
- BofA Securities India Limited
- Citigroup Global Markets India Private Limited
The details in respect of the price band and subscription will be made available in a short time.
Delhivery IPO Allotment Status
The specifications in regards to the Delhivery IPO Allotment Status will be made available as the IPO will go live.
The quota as reserved for the investors is as follows: for QIBs: 75%, for NII: 15%, and for retail investors: 10%.
In case the IPO is undersubscribed, the investors will be allotted the number of shares as demanded and in case the IPO will be oversubscribed, the allotment will be based on pro-rata or another method as determined by the entity in consultation with experts.
Link Intime India Private Limited is the registrar of the issue. Link Intime operates across India in the IPO & Corporate Registry business.
It is one of the most prominent names serving with a credible and distinguished history of excellence.
Delhivery IPO Live Performance
Keen to know the Delivery IPO Performance, click on the given below link and get all the important information regarding Delhivery Share Price, its trading, and its performance.
Subscribe to Delhivery IPO – Open Free Demat Account Now!
Latest Delhivery IPO News
With this IPO, institutions like Carlyle Group and SoftBank are planning to divest their shareholdings in the company. In addition, Delhivery’s co-founders Suraj Saharan, Kapil Bharati and Mohit Tandon are also offering their shares as Offer for Sale of worth Rs. 6 crore, Rs. 14 crore and Rs. 40 crore respectively.
Owing to the market responses to the fintech firm Paytm and E-commerce Company Zomato Ltd. IPO, SEBI has enhanced its level of scrutiny for any upcoming IPOs putting entities like Oyo Hotels and Delhivery in a state where both the startups are now considering pushing back their IPO.
The objective of SEBI has been to protect investors and to act in their best interest and in an attempt of the same, such steps are being taken.
Delhivery – Company Review
Delhivery serves as an integral part of the supply chain services. It offers seamless services in the form of Express parcel, Freight, Cross-border services, and other Supply chain services.
As per the RedSeer reports, Delhivery happens to be the largest and fastest-growing fully-integrated entity in Fiscal 2021 for their logistic services.
The company aims at proffering high-paced services at low costs. They operate in more than 17000 pin codes embarking their presence in every state and almost every notable city in India with their extensively scaled delivery centers, gateways, sort centers.
Also, they offer cross-border services through a network of global partners. Delhivery’s customer base includes large & small e-commerce participants, SMEs, and other leading enterprises & brands.
Products or Services
The start-up offers varied services in the form of Express Parcel, Partial-Truckload Freight, Truckload Freight, Delhivery Cross-Border, and other supply Chain Services.
It is one of the fastest-growing new-age technology-driven entities serving across 17000 pin codes in India and also extends its service scale to cross borders.
With its high-class infrastructure, prompt logistic services, and ever-evolving technology capabilities, it strives at retaining its customers and offering stately service at reasonable costs.
Promoters and Holding
The founders of the Gurugram based company, Delhivery are Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati.
The company is professionally managed and does not have any identifiable promoters. The management of Delhivery comprises of the following:
- Deepak Kapoor (Chairman)
- Sahil Barua (CEO)
- Ajith Pai (COO)
- Kapil Bharati (CTO)
- Sandeep Barasia (CBO)
Is Delhivery good for Investment?
Delhivery IPO has already created a buzz in the market being the first company to receive SEBI approval on DRHP in 2022.
Presently, the company has a strong diverse base of around 21,342 customers.
To expand its operations, Delhivery acquired the B2B logistics company, Spoton Logistics and in further pursuance, in December 2021, it made another acquisition of Transition Robotics Inc. which is a California-based unmannered aircraft system company.
The company is progressively making development in respect of infrastructure, technology, and expansion.
Delhivery Financial Statements
| Amount (in INR & Million) | |||||
| 31-Dec-21 | Dec-20 | 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Assets | 84,294.83 | 47,847.56 | 45,977.98 | 43,573.08 | 40,625.45 |
| Revenue | 49,114.06 | 28,065.29 | 38,382.91 | 29,886.29 | 16,948.74 |
| Expense | 58,101.51 | 30,626.92 | 42,127.04 | 32,574.31 | 34,781.78 |
| Profit After Tax | (8,911.39) | (2,974.92) | (4,157.43) | (2,689.26) | (17,833.04) |
The company has reported a loss of Rs.4155 crore in the year 2021. Though Delhivery is attempting to expand its operations and reach with persistent efforts, it is not yet a profit-making company.
It has a negative EPS (diluted) of 8.05. The revenues as per the books for the year ending March 2021 were Rs.3838 crores.
In August 2021, Delhivery acquired the B2B logistics company, Spoton Logistics for expanding its operations.
And in December 2021 it further acquired California-based unmanned aircraft system company Transition Robotics Inc.
And now with the Delhivery IPO, the entity will be raising funds from the public for stability and expansion.
| Earnings per Equity Share (in Million) | |||||
| 31-Dec-21 | Dec-20 | 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Basic & Diluted | (15.36) | (5.77) | (8.05) | (5.22) | (47.22) |
Delhivery IPO Review
Delhivery Private Limited which is now Delhivery Limited is making preparations for its IPO.
The action of conversion from private to a public company has been affected in pursuance of the upcoming IPO since private companies cannot offer securities to the public at large.
The business of this new-age technology-driven logistics is largely dependent on e-commerce and third-party partners which can be a risk factor while considering an investment.
As per the objects listed for the IPO, Delhivery is moving ahead for expansion and extending its capacity despite all the setbacks due to COVID-19.
Also, as the economy and market are adapting the new advancements and technology, the entity is likely to grow with the logistics market.
Delhivery IPO Details
Here are few more details you need to know before investing in Delhivery IPO –
Delhivery IPO Issue Object
Delhivery has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Funding organic growth initiatives
- Expanding Network Structures
- Building scales in existing business lines and developing new adjacent business lines
- Upgrading Logistics Operating System
- And for other corporate purposes
Delhivery IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Rapid growth, extensive scale, and improvement in unit economics
- Their proprietary logistics operating system
- Vast data intelligence capabilities
- Their network design and engineering
- Their integrated portfolio of logistics services
- Strong relationships with a diverse customer base
- Extensive ecosystem of partners, enabling an asset-light business model and extended reach
- Highly qualified professional team
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | -8.05 | -14.66 | 54.79 |
| 31-Mar-20 | -5.22 | -8.48 | – |
| Mar-19 | -47.22 | -52.63 | – |
Delhivery IPO Lead Managers
Here are the list of Lead managers –
- Kotak Mahindra Capital Company Limited
- Morgan Stanley India Company Private Limited
- BofA Securities India Limited
- Citigroup Global Markets India Private Limited
Delhivery IPO Registrar to offer
Check out the details of the registrar here –
Link Intime India Private Limited
Address – C 101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai 400083, Maharashtra, India
Tel: +91 22 4918 6200
E-mail: delhivery.ipo@linkintime.co.in
Website: www.linkintime.co.in
Investor grievance E-mail: delhivery.ipo@linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Registration No.: INR000004058
Delhivery IPO – Other Details
- Statutory Auditor – S.R. Batliboi & Associates LLP
- Legal Counsel to the Company – Shardul Amarchand Mangaldas & Co
- Bankers to the Company – HDFC Bank Limited, Axis Bank Limited, IndusInd Bank Limited, ICICI Bank Limited, State Bank of India, and Kotak Mahindra Bank Limited
Delhivery IPO Verdict by Stock Brokers
Review by Angel One: While Delhivery may have achieved unicorn status, it is still a loss-making entity.
However, it remains to be seen how this company will perform on the bourses, given that several new rules have been implemented.
Delhivery IPO – Conclusion
The company reflected a dynamic rise of 28% in its revenues to Rs 3,838 crore. However, the company’s loss had also expanded to Rs 4,155 crore and Delhivery is not yet a profit-making company.
Delhivery has an extensive reach and an impeccable service record. It is a well-established company having a dominant customer base of more than 21000 customers.
Delhivery serves B2B majorly. It has a high growth perspective and is extending itself continuously.
Delhivery has shown incredible growth of 48.5% compound annual growth rate (CAGR) over the financial year 2019-21.
To Subscribe to Delhivery IPO – Open Demat Account Now!
Delhivery IPO Review FAQs
Check out the FAQs on Delhivery IPO –
What is the Issue Size of Delhivery IPO?
The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article.
You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Delhivery IPO?
The price band for this particular IPO ranges between Rs.462 to Rs.487. As far as the face value of the share is of concern, it is Rs.1 per share.
What is the Delhivery IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on May 11, 2022, while the closing date is set at May 13, 2022.
What is the Delhivery IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO.
Basis of Allotment finalization is on May 19, 2022, refund initiation is on May 20, 2022, credit of shares is on May 23, 2022, and share listing date is on May 24, 2022.
What is the Delhivery IPO Listing Date?
Shares of this company shall be listed in the exchanges May 24, 2022. The date, when the listing would be done, is stagnant on May 24, 2022.
Who is the Registrar of Delhivery IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Delhivery IPO?
Here are the promoters of this IPO – PROFESSIONALLY MANAGED. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Delhivery IPO?
They have obtained the GMP of this IPO and it is (Rs.10. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Delhivery IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Delhivery Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide.
PAT for the financial year 2021 in Million is (4,157.43), 2020 is (2,689.26), 2019 is (17,833.04). PAT from Dec 2021 is (8,911.39).
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