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.
The company has proprietary technology systems that enable it to offer integrated Logistics services to a wide variety of customers. Its technology stack consists of over 80 applications for all supply chain processes.
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.
Its 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.
Delhivery want to create a commercial operating system. Three operating concepts guide their business:
People-centricity: Our infrastructure, network, and technology enable us to address supply-chain issues that affect millions of people on a daily basis.
Partnership-based growth: They think that systemic transformation necessitates cooperation and collaboration. Both infrastructure and technology capabilities are built to be available to their Indian and international partners.
Always be efficient: Their consumers can accomplish more with what they have if they save money. Across the supply chain, they are constantly striving for efficiency and creative methods to cut costs.
Competitive Strengths
- Rapid growth, extensive scale, and improvement in unit economics
- Their proprietary logistics operating system
- Vast data intelligence capabilities
- Their network design and engineering
- Their integrated portfolio of logistics services
- Strong relationships with a diverse customer base
- Extensive ecosystem of partners, enabling an asset-light business model and extended reach
- Highly qualified professional team
Is Delhivery good for Investment?
Delhivery IPO has already created a buzz in the market being the first company to receive SEBI approval on DRHP in 2022.
Presently, the company has a strong diverse base of around 21,342 customers.
To expand its operations, Delhivery acquired the B2B logistics company, Spoton Logistics and in further pursuance, in December 2021, it made another acquisition of Transition Robotics Inc. which is a California-based unmannered aircraft system company.
The company is progressively making development in respect of infrastructure, technology, and expansion.
Company Financials
| Amount (in INR & Million) | ||||
| 30-Jun-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Assets | 65,821.92 | 45,977.98 | 43,573.08 | 40,625.45 |
| Revenue | 13,640.11 | 38,382.91 | 29,886.29 | 16,948.74 |
| Expense | 14,935.91 | 42,127.04 | 32,574.31 | 34,781.78 |
| Profit After Tax | (1,295.80) | (4,157.43) | (2,689.26) | (17,833.04) |
Object Of The Issue
- Funding organic growth initiatives
- Expanding Network Structures
- Building scales in existing business lines and developing new adjacent business lines
- Upgrading Logistics Operating System
- And for other corporate purposes
Delhivery IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 5 | Blue Dart Express Limited | 153.31 |
| 2 | 10 | TCI Express Limited | 67.97 |
| 3 | 10 | Mahindra Logistics Limited | 158.04 |
Delhivery IPO Strengths
- As of FY21, Delhivery has been hailed as the largest and fastest growing, fully integrated services player in the country, in terms of revenue
- Delhivery a team of 474 engineers, data scientists and product professionals, that have built a proprietary technology system that helps the company in offering services to a wide variety of customers
- Delhivery has a huge data intelligence capability
- Their dynamic network makes it easier for them to respond rapidly to changes in volumes, shipment profiles and environmental conditions
Delhivery IPO Risks
- If the company cannot maintain its existing network infrastructure and also grow at a steady pace, it will adversely affect its financials
- Disruptions to the transportation facilities and logistics will have a material impact on the operations of the business
- If the company fails to attract and retain skilfull workers and there are increases in costs of labour, it will affect the company’s operations and business
- It is very difficult for the company to not pass on the additional operating expenses incurred by them, to the customers are the industry they function in is highly competitive
Delhivery IPO Interesting Facts
- Delhivery has 20 fully automated sortation centers along with 86 gateways that automate close to 4 million shipments in a day
- Delhivery has built a very asset light operation model vis-a-vis it’s competitors in logistics space
- The logistics startup provides delivery for express parcels, payment collections along with fraud detection and product identification
Delhivery IPO – Details
| IPO Opening Date | 11 May 2022 |
| IPO Closing Date | 13 May 2022 |
| Issue Type | Book Built Issue IPO |
| Issue Size | ₹5235 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹462 to ₹487 |
| Market Lot | 30 Shares (1 Lot) |
| Min Order | 30 Shares |
| Listing At | BSE, NSE |
| Register | LinkInTime India Private Limited |
| QIB Shares Offered | Not less than 75% of the Net Offer |
| Retail Shares Offered | Not more than 10% of the Net Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Net Offer |
Delhivery IPO – Date Schedule
| IPO Open Date | 11 May 2022 |
| IPO Close Date | 13 May 2022 |
| Basis of Allotment Date | 19 May 2022 |
| Initiation of Refunds | 20 May 2022 |
| Credit of Shares to Demat Account | 23 May 2022 |
| IPO Listing Date | 24 May 2022 |
Delhivery IPO – Lots Size & Price
| Application | Lots | Shares | Amount ( Cut-Off) |
| Minimum | 1 | 30 | 14,610 |
| Maximum | 13 | 390 | 1,89,930 |
Promoter Holding
| Pre Issue Share Holding | 15% |
| Post Issue Share Holding |
Delhivery IPO Prospectus
Company Contact Information
| Delhivery Limited N24-N34, S24-S34, Air Cargo Logistics Centre-II, Opposite Gate 6 Cargo Terminal, Indira Gandhi International Airport, New Delhi 110037 Delhi, India Tel: +91 124 6225602 E-mail: cscompliance@delhivery.com Website: https://www.delhivery.com/ |
Delhivery IPO Registrar
| Link Intime India Private Limited C 101, 247 Park, L.B.S. Marg Vikhroli (West), Mumbai 400083 Maharashtra, India Tel: +91 22 4918 6200 E-mail: delhivery.ipo@linkintime.co.in Website: www.linkintime.co.in |
Delhivery IPO Lead Manager(s)
| 1. Kotak Mahindra Capital Company Limited 2. Morgan Stanley India Company Private Limited 3. BofA Securities India Limited 4. Citigroup Global Markets India Private Limited |
Delhivery IPO FAQs
| When Delhivery IPO will open? The Delhivery IPO dates are 11 May 2022 To 13 May 2022. |
| What is the lot size of Delhivery IPO? Delhivery IPO lot size is 30 Shares and total amount is ₹14,610. |
| How to apply for Delhivery IPO? You can apply in Delhivery IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. |
| When is Delhivery IPO listing date? The Delhivery IPO listing date is announced. The date of Delhivery IPO listing is [24 May 2022]. |
