Delhivery was incorporated on June 22, 2011 as SSN Logistics. The company is an Indian delivery and e-commerce logistics business.
| Bidding Dates |
|---|
| 11 May 2022 - 13 May 2022 |
| Subscription |
|---|
| 1.63x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,610 | 1 | 13 | 30 | 107.5 M | ₹462 - ₹487 | - | ₹49672.9 M - ₹52360.8 M | RHP DOC |
Delhivery IPO SUBSCRIPTION STATUS
13 May '22Delhivery IPO overall subscription rate was 1.63 times the total available shares
Delhivery IPO retail subscription rate was 0.57 times in the retail segment
Delhivery IPO non-institutional investor subscription rate was 0.3 times in the non-institutional investor category
Delhivery IPO Qualified Institutional Bidder subscription rate was 2.66 times the available shares for Qualified Institutional Bidder
Delhivery IPO Employees subscription rate was 0.27 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 10% | 15% | 75% | - |
13 May 2022 (Day 3) | 0.57x | 0.3x | 2.66x | 0.27x |
12 May 2022 (Day 2) | 0.4x | 0.01x | 0.29x | 0.12x |
11 May 2022 (Day 1) | 0.3x | 0.01x | 0.29x | 0.06x |
Delhivery FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) | Margins |
| 9MFY22 | -8,911.39 | 48,105.30 | -5090.97 | -8,876.56 | -4.82% |
| 9MFY21 | -2,974.92 | 26,438.66 | -1919.66 | -3,807.84 | -3.37% |
| FY21 | -4,157.43 | 36,465.27 | 47.69 | -2,437.99 | -2.75% |
| FY20 | -2,689.26 | 27,805.75 | -6339.06 | -8,474.66 | -6.19% |
| FY19 | -17,833.04 | 16,538.97 | -2426.84 | -3,992.74 | -8.29% |
Delhivery IPO SUBSCRIPTION STATUS DETAILS
Delhivery had 107.5 M shares on offer
Delhivery IPO offer price was in the range ₹462 - ₹487
Delhivery IPO minimum Investment was ₹14610
Delhivery IPO issue size was ₹ 49672.9 M - ₹ 52360.8 M
Delhivery had a minimum lot size of 30 Shares per application
Delhivery NUMBER OF SHARES ON OFFER
Delhivery IPO IMPORTANT DATES
| Issue Open Date | 11 May 2022 |
| Issue close Date | 13 May 2022 |
| Allotment Date | 19 May 2022 |
| Refund Date | 20 May 2022 |
| Demat Account Credit Date | 23 May 2022 |
| Listing Date | 24 May 2022 |
| Listing on Exchange(s) | NSE and BSE |
| Delhivery Allotment Status | Exchange |
Delhivery IPO subscription opened on 11 May 2022, and closed on 13 May 2022
IPO allotment for Delhivery was finalized on Thursday, 19 May 2022
IPO listing for Delhivery was on NSE and BSE on Tuesday, 24 May 2022
Delhivery IPO LISTING GAINS
| Issue Price (adjusted) | 487.0 |
| Listing Open Price | 495.2 |
| Listing Close Price | 536.4 |
| Listing Gain% | 1.7% |
| Current Gain% | -2.8% |
Delhivery Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Delhivery Ltd. | 473.3 | 34291.5 | 379 | -7.2 | 3.2 | 1.6 | 1.2 | 10867 | 16 | 152.7 | -5.8 | 1.2 | -52.9 |
| Container Corporation of India Ltd. | 505.2 | 38476.9 | 31 | -7.3 | 4.2 | 9.6 | 8.2 | 9443.2 | 1.2 | 1241.8 | -3.6 | 16.3 | -4.2 |
| Shadowfax Technologies Ltd. | 241.2 | 14120.3 | 83.5 | 3 | 6.4 | 3.9 | 4238.6 | 68.6 | 111.7 | 1638.4 | 2.9 | ||
| Blue Dart Express Ltd. | 5089.5 | 12076.3 | 42.1 | 2.7 | 1.9 | 13.9 | 6 | 6182.8 | 7.3 | 247.4 | -2 | 121 | 15.8 |
| VRL Logistics Ltd. | 281.4 | 4921.9 | 18.4 | 0.8 | 1.5 | 20.7 | 9.1 | 3244.8 | 1.8 | 236.8 | 29.5 | 15.3 | 21.8 |
| Mahindra Logistics Ltd. | 402.7 | 3995.7 | 103.8 | 0.5 | 0.5 | 0.2 | 0.1 | 7016.4 | 14.6 | 2.3 | 106.4 | 3.9 | 203.1 |
Delhivery INFORMATION ON IPO ISSUE
About Delhivery
Delhivery was incorporated on June 22, 2011 as SSN Logistics. The company is an Indian delivery and e-commerce logistics business.
Object of the Issue
1. Funding organic growth initiatives.
2. Funding inorganic growth through acquisitions and other strategic initiatives.
3. General corporate purposes.
Delhivery Book Running Lead Manager
Kotak Mahindra Capital Company Limited
delhivery.ipo@kotak.com
Morgan Stanley India Company Private Limited
delhivery_ipo@morganstanley.com
BofA Securities India Limited
dg.delhivery_ipo@bofa.com
Citigroup Global Markets India Private Limited
delhivery.ipo@citi.com
Delhivery Registrar to the Offer
Link Intime India Private Limited
delhivery.ipo@linkintime.co.in
Delhivery Strengths
Rapid growth
Rapid growth, extensive scale and improvement in unit economics
Logistics operation
Proprietary logistics operating system
Networking
Network design and engineering
Portfolio of services
Integrated portfolio of logistics services
Strong relationships
Strong relationships with a diverse customer base
Ecosystem of partners
Extensive ecosystem of partners, enabling an asset-light business model and extended reach
Delhivery Risks
Losses and negative cash flow
The company has history of losses and negative cash flows from operating, investing and financing activities and may continue to experience losses and negative cash flows in the future as it anticipates increased expenses in the future
Reliance on network partners
The company relies on network partners and other third parties for certain aspects of the business
Contingent liabilities
The company has certain contingent liabilities
IPO FAQs
This IPO consists of an offer for sale of up to Rs 1,235.0 crore, of 25,364,585 shares. It also consists of a fresh issue of Rs 4,000.0 crore.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 462.0 - 487.0.
The IPO application opens on May 11, 2022 and closes on May 13, 2022.
The minimum lot size for the IPO is 30. The maximum lot size for the IPO is 390.
For all category investors, the minimum application amount for this IPO is Rs. 14,610.0, the maximum value for this IPO is Rs 189,930.0.
This IPO will be allotted on May 19, 2022.
The refund will be credited to your account on May 20, 2022.
The allotted shares will be credited to your demat on May 23, 2022.
Delhivery Ltd.’s shares listed on the stock exchanges on May 24, 2022.