delhivery: Delhivery issues free shares before the IPO
According to documents filed with the Ministry of Commercial Affairs to which ET had access, the company said on Sunday that it had, at an extraordinary general meeting (EGM) held on September 29, decided to allocate 16.8 million d free shares to shareholders in the 9: 1 ratio.
About 90 natural and legal persons have been listed as beneficiaries of these free shares, according to the documents.
The company, backed by SoftBank Vision Fund and Carlyle Group Inc, seeks to raise nearly $ 1 billion through an initial public offering (IPO) slated for by year-end in Classes.
Last month, the company said Lee Fixel, the former partner of New York-based investment firm Tiger Global, invested $ 125 million through his Addition fund.
In August, the company secured $ 100 million from strategic investor FedEx Express. Earlier in June, the 10-year-old company said it had raised $ 275 million from investors led by GIC and Fidelity.
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Founded by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan and Kapil Bharati, Delhivery is an end-to-end logistics and supply chain services company.
It has processed over a billion shipments with more than 17,000 customers, including large and small participants in e-commerce and small and medium-sized businesses.
Its other shareholders include funds such as Fosun, Tiger Global, Times Internet, CPPIB and Nexus Venture Partners.
The company stated in regulatory documents that “… 1,684,6803 shares of Rs 10 each fully paid up with distinctive numbers:
from 18.71.868 to 220.127.116.110 free shares (will be allocated) to existing shareholders of the company, whose names appear in the register of members of the company as of September 28, 2021.
The AGE also adopted a resolution to grant more stock options under the Esops program to eligible past and current employees.
The company is also seeking to adjust its Mandatory Convertible Preference Shares (CCPS) in the ratio of 10: 1, or 10 equity shares of Rs 10 each for each CCPS of Rs 100 each held by that CCPS holder, in accordance with this issuance of bonus, deposits showed.
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