These 2 companies have decided the price band of their IPO, you can also invest money; see full details

Delhivery has fixed a price band of Rs 462-487 per share for its initial public offering (IPO) of Rs 5,235 crore.

Supply chain company Delhivery has fixed a price band of Rs 462-487 per share for its Rs 5,235 crore initial public offering (IPO). The company said that the IPO will open on May 11 and close on May 13.

supply chain company delhivery (Delhivery) its initial public offering of Rs 5,235 crore ,IPO, price band for (Price Band) 462-487 per share has been fixed. The company said that the IPO will open on May 11 and close on May 13. The bidding for anchor investors will open on May 10. IPO (Initial Public Offering) The size of Rs.7,460 crore has now been reduced to Rs.5,235 crore. In the IPO, new equity shares worth Rs 4,000 crore will be issued and an offer for sale (OFS) of Rs 1,235 crore will be made by the existing shareholders.

Under the OFS, investors Carlyle Group and co-founders of SoftBank and Delhivery will sell some of their stake in the logistics company.

What does the company do?

Delhivery, a new age domestic logistics and supply chain company, is supported by SoftBank, Tiger Global Management and Carlyle. The company had earlier signed an agreement to acquire 100 per cent stake in its rival Spoton Logistics.

Earlier, the company had issued bonus shares to the shareholders through a resolution passed in the Extra Ordinary General Meeting (EGM) held on 29 September. Earlier, Delhivery co-founder and chief executive Sahil Barua had indicated in an interview to the Economic Times that the company had plans to list in the next six to eight months. He had told that the company plans to issue a primary issue in the range of $ 400-500 million.

Delhivery competes with Blue Dart Express Ltd and DTDC India, a unit of DHL, in the $150 billion domestic logistics sector. The logistics sector in the country contributes about 14 percent to the total gross domestic product. This information is according to the Logistics Skill Council of the government.

At the same time, retail asset management company Prudent Corporate Advisory Services has fixed a price band of Rs 595-630 per share for its initial public offering (IPO) of Rs 539 crore. The company said that its IPO will open on May 10 and the share sale will last for three days. The bidding for anchor investors will open on May 9.

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The initial share sale will be of 85,49,340 equity shares, which includes Offer for Sale (OFS) of 82,81,340 equity shares by an existing investor and a whole time director. The company is expected to raise around Rs 538.61 crore through the IPO.