Delhivery IPO Open Up on 11th May Reduces Issue Size By 30%

Delhivery IPO News

The initial share sale of Delhivery is scheduled to begin on the 11th of May, according to the information that is available at the exchanges. The media reports suggest that the size of the issue is now at Rs 5,235 crore in the wake of market volatility and uncertain geo-political circumstances.

The company originally set out to raise Rs7,460 crore via an initial public offering (IPO). The IPO consists of fresh equity issues that can reach Rs.4,000 crore as well as an offer to sell shares totalling up to 1235 crores.

Under the OFS, the investors Carlyle Group and SoftBank as together with Delhivery's co-founders are expected to sell their stakes in the company that handles logistics.

In the draft documents, CA Swift Investments, an entity belonging to Carlyle Group, will sell shares worth the amount of Rs454 crore. SVF Doorbell (Cayman) Ltd which is an arm that is part of Softbank Group, will offload shares worth Rs365 crore. Deli CMF Pte Ltd, an entirely-owned subsidiary of the private capital funds China Momentum Fund, L.P. will auction shares worth 200 crores, and Times Internet will sell shares worth the sum of Rs165 crore.

Additionally, the co-founders of Delhivery the trio of Kapil Bharati Mohit Tandon and Suraj Saharanwill sell shares for Rs5 crore in cash, Rs40 million and Rs6 crore, respectively.

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The proceeds of the fresh issue will be used for the financing of organic growth initiatives, as well as funding growth through acquisitions, and other strategic initiatives as well as for general corporate objectives.

Kotak Mahindra Capital, Morgan Stanley India, Bofa Securities India along with Citigroup Global Markets are leading the IPO. The company that handles logistics for e-commerce has an all-India network and provides services to 17 045 post index number (PIN) codes up to June 30th, 2021.

It offers solutions for supply chain management to a wide range of 21,342 customers who are active including direct-to-consumer online retailers, e-commerce marketplaces and small and medium-sized enterprises across a variety of verticals, including FMCG and consumer durables consumer electronics and lifestyle, retail, manufacturing and automotive.

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CityMall Raises $75 Mn in Series C Round Led by Norwest

A social-commerce platform called CityMall has received Rs 574 crore or $75 million, led by Norwest Venture Partners and participated by other investors, both existing and new investors. This is the third round of funding for the firm based in Gurugram in the past year.

CityMall has granted the allotment of one equity share and 11771 preferential shares at the price of 458,716 to raise $574 crore (or $75m), the regulatory reports indicate. Norwest Capital and Citius Fund are the two biggest participants in the round, with an investment of Rs 142.52 crore and the sum of Rs 112.52 crore, respectively. Jungle Venture, Elevation Capital, AM Holding, General Catalysts, Waterbridge Ventures, and Accel have a total of Rs 90 crore, 60 crores, and the sum of Rs 56.2 crore as well as the sum of Rs 30 crore and 22.5 crores, respectively.

Entrackr was exclusive information regarding this particular round back in October. CityMall raised $11 million in Series A in March and $22.5 million Series B by June. As per Financial Tracker's estimations, the company is valued at 320 million dollars in its Series C round.

Also read: Wakefit Slips Into Losses After Crossing Rs 400 Cr in Revenue

Additionally, the company has also expanded its ESOP option pool from 1381 to 2912 options, and it is now worth 135 crores, equivalent to $17.5 million.

CityMall offers the categories of lifestyle, grocery, and other categories by establishing an extensive network of community-based resellers in tier II as well as III towns. The company claims to have 200K customers and 20,000 resellers in eight cities within Haryana. Haryana.

CityMall has earned money at the beginning of the year during the year-end of March 2021. The operating revenue was the sum of Rs 14.95 crore for FY21. However, it suffered a loss of the equivalent of 10.4 crores over the same time.

CityMall's rival that is closed, DealShare, recently added to the Series E funding round with 45 million dollars. The Tiger Global-backed business was the second unicorn to emerge from the world of social commerce, following Meesho. CityMall is also in competition against Farmio by Meesho and a couple of others.

Also read: SharkTank's Ashneer Grover Demands Rs.4000 Crore to Leave His Company BharatPe

The Angad Kikla and Naisheel Vardhan-led company joined a few startups which have raised three capital rounds over the past twelve months. On Monday, the B2B animal protein market Captain Fresh announced its $50 million Series C round. The Bengaluru-based business's previous two rounds took place in July and December this year.

Get all the latest startup news and upcoming IPO news on Entrackr.

Licious becomes India's first unicorn company in the D2C segment

Latest Startup Funding News

Direct-to-consumer seafood and meat brand Licious became the first Indian unicorn in the D2C segment when the brand raised $52 million under the guidance of IIFL's Late Stage Tech Fund. It is also the 29th company that has achieved the status of a unicorn in 2021 .

As of June this year, Bengaluru's firm was able to raise $192 million in the Series F round of funding that was led by Temasek and Multiples Private Equity. Brunei Investment Agency and existing investors 3one4 Capital, Bertelsmann India Investments, Vertex Growth Fund as well as Vertex Ventures Southeast Asia and India were also part of the round.

"Even though the funding for the D2C sector has grown significantly, FMCG is still not considered the most attractive category," said Vivek Gupta and Abhay Hanjura who co-founded Licious.

"The fresh meats and seafood sector is still largely underserved and unorganised that holds a vast opportunity of $40 billion," they said.

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In the spring of this time last year Licious was able to provide ESOPs to over 1,000 employees , which included its blue-collar employees. Then, it announced the purchase of a buyback amounting to 30,000 in the month of August.

Licious was the 29th company to reach unicorn status by 2021 on its own. The company was founded in the month of April. Vedantu Professional, a networking platform designed for people working in the blue collar and gray Apna and the esports platform Mobile Premier League had joined the club following some of the other companies like Zetwerk, Grofers, Eruditus, CoinDCX, upGrad, MindTickle and BharatPe had raised new rounds with a valuation of unicorns in August.

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Latest Startup IPO News - Freshworks and Pine Labs

Freshworks Startup Financials

Freshworks Inc. is planning to raise nearly $1 billion through a public listing in the US at a valuation of almost $9 billion, which will make it one of the most valuable software-as-a-service (SaaS) startups from India.

Freshworks filed a new filing Monday with the US Securities and Exchange Commission. It stated that it will offer 28.5 million Class A shares at prices between $28 and $32. The unicorn hopes to raise $798 million to $912 million via the initial public offering (IPO).

Freshworks has 2 headquarters b/w San Mateo, California (USA) and Chennai (India). Founded in India, most of Freshworks’ technology and operations team is based in the country. 

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Pinelabs Startup Financials

Pine Labs, a merchant platform company, may go public sooner than anticipated. According to regulatory filings, the company passed a resolution to make its Singapore-based holding company public.

This renaming of the company from Pine Labs Pte has resulted in Pine Labs Limited being the new company name. It indicates that preparations for an IPO have begun to gain momentum.

According to Sources, the company will likely list in the US within the next 10-12 month. Although the company has not yet provided details about the issue or valuation, a TOI report estimated that Pine Labs would be seeking a $5 billion valuation for a potential IPO.

The conversion from a private company into a public company has taken place weeks after the closing of its $600m funding round at a valuation of $3.5 billion. Pine Labs raised $285m in May, and another $315 million in July. Sources claimed that the financing round was the final private financing for Pine Labs.

Pine Labs, which would be the fourth fintech company to move closer to a public list, will join Policybazaar, Paytm and Mobikwik. Vijay Shekhar Sharma's firm wants to be one of the largest IPOs with a valuation between $25-30 billion.

Pine Labs was also instrumental in facilitating Sequoia Capital's partial exit via a secondary transaction. Seven investors, including Duro Capital, Moore Strategic Ventures, Marshall Wace and Lenarco Limited, received shares in the VC firm that were worth $225-$230 millions.

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Latest IPO News

Stocks of four IPOs recently listed fall before anchor lock-in expiry

Four companies who made their stock market debut last month saw their shares fall, just before the lock-in period ended for anchor investors. Krsnaa Diagnostics and Windlas Biotech lost between one and three percent during Thursday's trade. On the other hand, the Nifty Smallcap 100 index rose 0.64 percent. All four companies will be able to lock in their anchor investors for a 30-day period on Monday.

BoAt is planning an IPO and estimates a valuation of almost $1.4 bn

BoAt is one of India's top-selling earwear brands and wearable categories. One of three people spoke on condition of anonymity to say that they are looking at a valuation around $1.4 billion (around Rs10,000 crores) for their IPO, which is expected between March and June next year.

India is looking for foreign institutional investment up to 20% in LIC IPO

According to a government source, the government may allow foreign institutional investments of up to 20% to Life Insurance Corporation. India's largest-ever IPO is expected to be the listing of LIC. The government aims to raise Rs. Its stake sale will bring in 900 billion dollars ($12.24 billion). This will make it easier for fund-raising to be completed for the IPO that the government has planned for the company, most likely during the current financial year. Due to concerns about the ability of the Indian stock markets to absorb such an offering, investors will be offered two portions of the IPO.

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Sansera Engineering IPO will open Sept 14

Sansera Engineering's initial public offering (IPO), will be made available to the primary market starting Tuesday, September 14. The price range for the offer is Rs 734-744 per unit. The Bengaluru-based company's IPO is looking to sell 17,244,328 shares from its existing shareholders and promoters. The OFS is open to existing investors, including Client Ebene and CVCIGP II Employees Ebene. Promoters include Unni Rajagopal, Unni Singhvi and D Devaraj.

Paytm appoints business heads prior to IPO

One97 Communications, the company that owns Paytm's brand, has promoted at least four people to the position as chief business officer (CBO), for its various verticals ahead of its eagerly awaited November-listing.

Read latest Paytm news: Paytm sets up separate subsidiary for its payment aggregator business

 

According to their Linkedin profiles, founder Vijay Shekhar Sharma's brother Ajay Shekhar Sharma and Ripunjai Gaur were elevated to CBO in the last month from senior vice-president positions.

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