Delhivery’s Rs 7,460-crore IPO gets approval of SEBI
By MYBRANDBOOK
The Securities and Exchange Board of India has given a thumbs up to the proposed Rs 7,460-crore initial public offering of Delhivery, making the Gurugram-based startup the first unicorn this year to have obtained the stock market regulator’s nod to list on domestic bourses.
SoftBank and Carlyle-backed Delhivery had said that it planned to raise Rs 5,000 crore through fresh issuance of shares while the IPO will have an offer for sale component of Rs 2,460 crore where some of its existing investors will sell part of their holdings.
At the time of its draft red herring prospectus (DRHP) filing, the company was seeking a valuation of around $6-6.5 billion for its listing. The Times Internet was listed among selling shareholders in the DRHP. Times Internet is part of the Times Group, which publishes The Economic Times. Kapil Bharati, Mohit Tandon and Suraj Saharan—who are among the five founders of Delhivery—are also listed to sell shares through the IPO.
Earlier this month, Delhivery made an investment in Falcon Autotech, a Noida-based maker of warehousing automation products. This is part of its strategy to invest in “future-ready” hardware solutions in its operations. The logistics startup had previously acquired Spoton Logistics in a $300 million all-cash deal to strengthen its business-to-business (B2B) vertical.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : AMIT CHADHA
Amit Chadha serves as the CEO and Managing Director of L&T Technology ...
Icons Of India : Kumar Mangalam Birla
Aditya Birla Group chairman Kumar Mangalam Birla recently made a comeb...
Icons Of India : Anil Agarwal
Anil Agarwal, the Founder and Chairman of Vedanta Resources Ltd., is r...
NPCI - National Payments Corporation of India
NPCI is an umbrella organization for operating retail payments and set...
LIC - Life Insurance Corporation of India
LIC is the largest state-owned life insurance company in India...
IREDA - Indian Renewable Energy Development Agency Limited
IREDA is a specialized financial institution in India that facilitates...
Indian Tech Talent Excelling The Tech World - PADMASREE WARRIOR, Founder, President & CEO - Fable
Padmasree Warrior, the Founder, President, and CEO of Fable, is revolu...
Indian Tech Talent Excelling The Tech World - Soni Jiandani, Co-Founder- Pensando Systems
Soni Jiandani, Co-Founder of Pensando Systems, is a tech visionary ren...
Indian Tech Talent Excelling The Tech World - AJAY BANGA, President - World Bank
Ajay Banga is an Indian-born American business executive who currently...