New Delhi / Chennai: The number of companies in India who want to go to the public will increase.
Substitute for the Logistics of the New Age of Delhivery, along with two companies based in Chennai – Radiant cash management services, an integrated cash logistics company, and Home Learning Solutions, ED-Tech companies – have received approval from India’s Effects and Exchange (SEBI) to collect Funds through the initial public offering (IPO) route.
Gurgaon-based Delhivery plans to collect Rs 7,460 Crore through IPOs, including the issuance of fresh equity shares worth RS 5,000 Crore and offers for sale (ofs) component of Rs 2,460 Crore by existing shareholders, according to the design of the Red Herring Prospectus Company (DRHP).
Under OFS, Carlyle’s private equity funds, Japanese Softbank, Times Internet (Times Internet are part of the Times group, which publishes the Times of India) and the Co-Founders Delhivery will release their share ownership in their logistics company.
Kapil Bharati, Mohit Tandon and Suraj Sahara, who are among the five founders of Delhivery, will also sell shares through the route ofs.
In Chennai, supported by climbing capital, cash management radiation services will issue new shares of Rs 60 Crore, while existing shareholders can sell up to three Equity Crore shares through offers for sale, where the founder Colonel Davidayam will sell for one crore shares and advisors Climbing, India will reduce up to two crore shares.
In comparison, the Edtech Veranda Learning Solutions platform seems to raise Rs 200 Crore through initial stock sales, where the IPO will be the main issuance of equity shares.
Delhivery, 2 Chennai companies get a nod with listings
