3 more companies have got the green signal for IPO from SEBI. Delhivery, Radiant Cash Management Services and Veranda Learning Solutions have received approvals from market regulator SEBI for their IPOs.
Delhivery IPO Details
Delhivery, an India-based logistics and supply chain startup, had filed an application with SEBI for its IPO in November. The IPO will have a fresh issue of Rs 5000 crore and an offer for sale of Rs 2460 crore. Through this offer for sale, the promoters and shareholders of the company will sell their shares.
Private equity firms Carlyle and SoftBank will sell their partial stake in this IPO. Carlyle first invested in Delhivery in November 2017. Carlyle will sell shares worth Rs 920 crore in the offer for sale of this IPO. Apart from this, Fosun Group, owned by China Momentum Fund, will also sell shares worth Rs 400 crore in this IPO, while SoftBank will sell shares worth Rs 750 crore and Times Internet Rs 330 crore.
The proceeds from the IPO will be used for the organic and inorganic growth of the company. Rs 1,250 crore from this IPO will be used for acquisitions and other business expansion plans. Kotak Mahindra Capital, Morgan Stanley India, BofA Securities India, Citigroup Global Markets are the Book Running Lead Managers of this IPO.
Radiant Cash Management IPO Details
Radiant Cash Management had filed for its IPO in October 2021. In this IPO, there will be a fresh issue of Rs 60 crore and an offer for sale of 3.013 crore shares. The proceeds from the IPO will be used to meet the company’s working capital requirements and purchase 220 specially fabricated armored vans.
Significantly, Radiant Cash Management is an integrated cash logistics company. The company has a strong hold in the retail cash management segment. It is the largest company in this segment in terms of network location.
Veranda Learning Solutions IPO Details
Veranda Learning Solutions is an online learning platform. It had filed the draft paper of its IPO with SEBI in November 2021. The company plans to raise Rs 200 crore through its IPO. The proceeds of the IPO will be used to pay off the company’s debt and meet the expenses incurred on the acquisition of Edureka.
Veranda Learning Solutions provides a wide range of learning solutions to students, professionals and corporate employees. Apart from the students preparing for UPSC exam, the company also provides coaching facilities for students preparing for Public Service Commission, Staff Selex Commission, Banking, Insurance, Railway & CA from different states.
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