Delhivery aims IPO for Q1 as large offerings
Delhivery Offer is pegged to be around ₹ 7,000 crore, rides on a positive outlook for sector.
Investment bankers Said, Logistics company Delhivery aims to launch its IPO in the June 2022 quarter.
A banker said, “The market has seen an improvement in the past one week amid talks of ceasefire between Ukraine and Russia. If market conditions continue to improve, we can see large issuances such as Delhivery launch their share sale.” Four IPOs have got launched in the past one week compared to just three between January and February.
The Gurugram-based company filed in November its draft red herring prospectus with market regulator Securities and Exchange Board of India (SEBI). It got Sebi’s approval for the in January.
Delhivery IPO is pegged to be around ₹ 7,000 crore. It is India’s largest multimodal, fully-integrated logistics and supply-chain firm by revenues (FY21 basis).
Challenging market conditions due to the US Federal Reserve’s hawkish pivot and Russia’s attack on Ukraine have roiled the IPO market after a record-breaking 2021.
Brokerage Motilal Oswal said in a recent note the domestic logistics sector offers a large addressable opportunity as it is pegged to grow at an annualized rate of 9 per cent to $365 billion between FY20 and FY26. It expects the growth to be higher for the organised players due to their “relentless focus on technology and automation.” At present, the logistics market is highly fragmented with organized players accounting for less than 4 per cent of market share. Motilal Oswal said the shift to unorganised to organized sector is already underway.
Delhivery is the largest and fastest growing fully-integrated player in India by revenue in Fiscal 2021. We aim to build the operating system for commerce, through a combination of world-class infrastructure, logistics operations of the highest quality and cutting-edge engineering and technology capabilities.
Source: Business standard
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