Delhivery Limited | Globe Capital
Delhivery Limited
Closed
Price Band
Rs. 462 – 487
IPO Issue Period
May 11, 2022 to May 13, 2022
Issue Size
Rs. 5,235.00Cr.
Face value
Rs. 1 /-
Fresh issue
Rs. 4,000.00 Cr.
Offer for sale
1,235 Cr.
Minimum Shares for Retail
30 shares
Listing on
NSE, BSE
Issue Type
Book Building
Registrar to the Issue
Link Intime India Private Ltd
Tentative Listing Date
May 24, 2022
QIB
Not More than 75% of the offer
NII
Not less than 15% of the offer
Retail
Not less than 10% of the offer

Kotak Mahindra Capital Company Limited (Past IPO Performance)
Morgan Stanley India Company Pvt Ltd (Past IPO Performance)
BofA Securities India Limited (Past IPO Performance)
Citigroup Global Markets India Private Limited (Past IPO Performance)

Delhivery provides a full range of Logistics services, including delivery of express parcel and heavy goods, PTL freight, TL freight, warehousing, supply chain solutions, cross-border Express, freight services, and supply chain software. The company also offers value-added services such as e-commerce return services, payment collection and processing, installation & assembly services, and fraud detection. Delhivery is the largest and fastest-growing fully integrated Logistics services player in India by revenue as of FY21. The company has built a nationwide network, servicing 17,045 PIN codes in the six months ended June 30, 2021, or 88.3% of the 19,300 PIN codes in India.

It has 164-network infrastructure includes 124 gateways, 20 automated sort centres, 83 fulfilment centres, 35 collection points, 24 returns processing centres, 249 service centres, 120 intermediate processing centres, and 2,235 direct delivery centres as of June 30, 2021. The company has engineering, data sciences, and product team of 474 professionals. The company served a diverse base of 21,342 active Customers across e-commerce, consumer durables, electronics, lifestyle, FMCG, industrial goods, automotive, healthcare, and retail.

For year/ period ended ( in Cr.)

H1FY22 FY21 FY20
Total Revenue 4810.53 3646.53 2780.58
Profit After Tax (891.14) (415.74) (268.93)
EPS
OPM (%)
PATM (%)
  • Rapid growth, scale, and synergies across business lines
  • Proprietary logistics technology systems
  • Data intelligence capabilities
  • An integrated portfolio of logistics services
  • Asset-light business model enabling rapid scale up
  • An experienced and entrepreneurial team from diverse backgrounds
  • Funding organic growth.
  • Funding inorganic growth through acquisition and strategic initiatives.
  • General corporate purposes

With continued losses, its EPS & P/E is negative. Though its IPO is priced very aggressively, considering its growth plans and bright prospects ahead, this is a pure long term “High Risk – High Yield” bet. Cash surplus/risk seeker well-informed Investors may consider parking of funds.

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