Delhivery receives approval for IPO

News: According to The Economic Times, Delhivery has received approval from Sebi for its IPO of Rs.7460 crore. Dates, share prices and lot size are yet to be announced by the company.

Views: Delhivery plans to raise Rs.5000 crore through fresh issuance of shares and Rs.2460 crore through an OFS and is looking for a US$6-6.5-billion valuation. In FY21, the company reported a revenue of Rs.3647 crore against Rs. 2780 crore in FY20, whereas losses widened to Rs.416 crore from Rs.269 crore in the previous year. The company has more than 21000 customers, including direct-to-home companies and e-commerce firms

Impact: Positive