DELHIVERY LIMITED

Our Company was incorporated as ^"SSN Logistics Private Limited", a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana, at New Delhi ('RoC') on June 22, 2011. Subsequently, the name of our Company was changed to "Delhivery Private united", pursuant to a fresh certificate of incorporation issued by the RoC on December 8, 2015. On the conversion of our Company to a public limited company, pursuant to a resolution passed by our Shareholders on September 29, 2021, the name of our Company was changed to "Delhivery Limited" and a fresh certificate of incorporation dated October 12, 2021 was issued by the RoC. For details of the change in registered office of our Company, see "History and Certain Corporate Matters" on page 246 of the Prospectus dated May 14, 2022 ('Prospectus').

Our Company has filed the Prospectus dated May 14, 2022 with the ROC (the "Prospectus") and the Equity Shares are proposed to be listed on the National Stock Exchange of India Limited ("NSE") and the BSE Limited ("BSC") and the trading will commence on May 24, 2022.

INITIAL PUBLIC OFFERING OF 107,497,225 EQUITY SHARES OF FACE VALUE OF EACH ("EQUITY SHARES") OF DELHIVERY LIMITED ("COMPANY" OR "ISSUER^") FOR CASH AT A PRICE OF Rs. 487 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF 7486 PER EQUITY SHARE) (THE "OFFER PRICE") AGGREGATING TO 752,350 MILLION (THE "OFFER") COMPRISING A FRESH ISSUE OF 82,137,328 EQUITY SHARES AGGREGATING TO RS 40,000 MILLION (THE "FRESH ISSUE") AND AN OFFER FOR SALE OF 25,359,897 EQUITY SHARES AGGREGATING TO RS 12,350 MILLION (THE "OFFER FOR SALE"), COMPRISING AN OFFER FOR SALE OF 4,106,866 EQUITY SHARES AGGREGATING TO RS 2,000 MILLION BY DELI CMF PTE. LTD., 9,322,586 EQUITY SHARES AGGREGATING TO RS 4,540 MILLION BY CA SWIFT INVESTMENTS, 7,495,031 EQUITY SHARES AGGREGATING TO RS 3,650 MILLION BY SVF DOORBELL (CAYMAN) LTD, 3,388,164 EQUITY SHARES AGGREGATING TO RS 1,650 MILLION BY TIMES INTERNET LIMITED (COLLECTIVELY, THE "INVESTOR SELLING SHAREHOLDERS"), 102,671 EQUITY SHARES AGGREGATING TO Rs. 50 MILLION BY KAPIL BHARATI, 821,373 EQUITY SHARES AGGREGATING TO Rs. 400 MILLION BY MOHIT TANDON AND 123,206 EQUITY SHARES AGGREGATING TO RS 60 MILLION BY SURAJ SAHARAN (COLLECTIVELY, THE "INDIVIDUAL SELLING SHAREHOLDERS") (THE INVESTOR SELLING SHAREHOLDERS AND THE INDIVIDUAL SELLING SHAREHOLDERS, COLLECTIVELY, THE "SELLING SHAREHOLDERS", AND SUCH EQUITY SHARES OFFERED BY THE SELUNG SHAREHOLDERS, THE "OFFERED SHARES"). THIS OFFER INCLUDED A RESERVATION OF 432,900 EQUITY SHARES AGGREGATING UP TO RS 200 MILLION (CONSTITUTING UP TO 0.06% OF THE POST-OFFER PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY) FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE "EMPLOYEE RESERVATION PORTION"), THE OFFER LESS THE EMPLOYEE RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE "NET OFFER". THE OFFER AND THE NET OFFER SHALL CONSTITUTE 14.84% AND 14.78%, RESPECTIVELY OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY. OUR COMPANY, IN CONSULTATION WITH THE BRLMS. OFFERED A DISCOUNT OF RS. 25 PER EQUITY SHARE TO ELIGIBLE EMPLOYEE(S) BDDING IN THE EMPLOYEE RESERVATION PORTION ("EMPLOYEE DISCOUNT") RS 46.020 EQUITY SHARES WERE ALLOTTED IN THE EMPLOYEE RESERVATION PORTION. *As per Prospectus

**Represents acquisition pries of shares pursuant to bonus issue.

Allotments were made to certain pre-IPO shareholders in September, 2021 at Rs. 380 per share, whereas the IPO Price Band is Rs. 462 to Rs. 467 per Equity Share. Investors are cautioned and are advised to read the RHP including the risk factors and make their own examination of our Company's business, financial performance, competitive position and future prospects as well as of market conditions before making an investment decision regarding the Offer.

The Offer was made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR") read with Regulation 31 of the SEBI ICDR Regulations. This Offer was made through the Book Building Process and in compliance with Regulation 6(2) of the SEBI ICDR Regulations, wherein at least 75% of the Net Offer was made available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs", the "QIB Portion"), provided that. Our Company, in consultation with the BRLMs allocated 60% of the QIB Portion to Anchor Investors on a discretionary basis (the "Anchor Investor Portion"), out of which one-third was reserved for domestic Mutual Funds, subject to valid Bids having been received from domestic Mutual Funds at or above the Anchor investor Allocation Price, in accordance with the SEBI ICOR Regulations. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares were added to the QIB Portion. Further, 5% of the QIB Portion (excluding the Anchor Investor Portion) was made available for allocation on a proportionate basis to Mutual Funds only, and the Net QIB Portion was made available for allocation on a proportionate basis to al QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids having been received at or above the Offer Price. Further, not more than 15% of the Net Offer was available for allocation on a proportionate basis to Non-Institutional Bidders, of which (a) one-third portion was reserved for applicants with application size of more than Rs. 200,000 and up to RS 1,000,000 and (b) two-thirds portion was reserved for applicants with application size of more than RS 1,000,000, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-institutional Bidders, subject to valid Bids being received at or above the Offer Price and not more than 10% of the Net Offer was made available for allocation to Retail Individual Bidders ("RIBs") in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All Bidders, other than Anchor Investors, were required to mandatorily utilise the Application Supported by Blocked Amount ("ASBA") process, providing details of their respective bank accounts (including UPI ID (defined In the Prospectus) in case of the UPI Bidders (defined in the Prospectus) in which case, the Bid Amount was blocked by the SCSBs, to participate in the Offer. Anchor Investors were not permitted to participate in the Offer through the ASBA process. Further. Equity Shares was allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. For details, see "Offer Procedure" on page 592 of the Prospectus.

The bidding for Anchor Investor opened and dosed on May 10, 2022. The Company received 64 applications from 64 Anchor Investors for 49,012,170 Equity Shares. The Anchor Investor Offer Price was financed at RS 487 per Equity Share. A total of 4,81,87,860 Equity Shares were allocated under the Anchor Investor Portion aggregating to RS 23,467,487,820.00. The Offer received 70,404 applications for 142,928,490 Equity Shares (including applications from Anchor Investor and prior to technical rejections) resulting In 1.3294 times subscription. The details of the applications received in the Offer from various categories are as under (before technical rejections):

Final Demand

A summary of the final demand as at different Bid prices is as under

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being the NSE on May 19, 2022.

The under subscribed portion in the Employee Category (without considering discount) has been spilled over for 367,017 shares.

The under subscribed portion of 23,593,413 Equity Shares in the Retail Individual Investors. Non-institutional Investors and Employee Category has been spilled over to QIB.

The IPO Committee of our Company on May 20, 2022 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being NSE. The Board of Directors of our Company on May 20, 2022 has allotted the Equity Shares to various successful Bidders. The Allotment Advice-cum-intimations and/or notices will be emailed or dispatched to the email id or address of the Investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Offer Account have been issued on May 19, 2022 and payment to non-Syndicate brokers have been issued on May 20, 2022. In case the same is not received within ten days, investors may contact the Registrar to the Issue at the address given below. The Equity Shares Allotted to the successful Alottees have been uploaded on May 20, 2022 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing application with NSE and BSE on May 23, 2022. The Company has received listing and trading approval from NSE and BSE and the trading will commence on May 24, 2022.

Note: All capitalized terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

INVESTORS PLEASE NOTE

The details of the allotment made will be hosted on the website of the Registrar to the Issue, Link Intime India Private Limited at www.linklntlme.co.in

All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/sole Bidder, Bid cum Application Form number, Bidder DP ID, Client ID, PAN. date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment S6p received from the Designated Intermediary at the address given below:

Link Intime India Private Limited

C101,247 Park, LB.S. Marg, VfchroS (West); Mumbai 400 083, Maharashtra, India

Telephone: +91 22 4918 6200; E-mail: delhivery.ipo@linkntime.co.in

Investor grievance e-mail: delhivery.ipo@linkintime.co.in; Website: www.linkintime.co.in

Contact person: Shanti Gopalakrishnan

SEBI registration number: INR000004058

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF DELHIVERY LIMITED.

Delhivery Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to undertake an initial public offering of its Equity Shares and has filed the Prospectus dated May 14, 2022 with the Registrar of Companies National Capital Territory of Delhi and Haryana, at New Delhi (RoC) on May 15, 2022 ("Prospectus"). The Prospectus is available on the websites of SEBI, BSE and NSE at www.sebl.gov.in, www.bseindia.com and www.nseindia.com, respectively, and on the websites of the Book Running Lead Managers i.e. Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited and Citigroup Global Markets India Private Limited at www.investmentbank.kotak.com,   www.morganstanley.com, www.mi-india.com and www.online.citibank.co.in/citigroupglobalsscreen1.html, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details rotating to such risk, refer the RHP which has been filed with the RoC, National Capital Territory of Delhi and Haryana including the section titled ‘Risk Factors' on page 34 of the Prospectus.

The Equity Shares have not been and will not be registered under the U.S. Securities Ad of 1933, as amended ("Securities Act") or any state securities laws in the United States, and unless so registered, may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act), except pursuant to an exemption from, or in a transaction not subject to the registration requirements of the Securities Act and in accordance with any applicable U.S. state securities laws. The Company has not registered and does not intend to register under the U.S. Investment Company Act of 1940 ("Investment Company Act"). Accordingly, the Equity Shares are being offered and sold (i) to persons in the United States or to, or for the account or benefit of, U.S. persons, in each case that are both "qualified institutional buyers" as defined In Rule 144A under the Securities Act and "qualified purchasers" as defined under the Investment Company Act in transactions exempt from or not subject to the registration requirements of the Securities Act and in reliance on Section 3(c)(7) of the Investment Company Act and (ii) outside the United States to non-U.S. persons in offshore transactions m reliance on Region S under the Securities Act and the applicable taws of the jurisdictions where such offers and sales are made. There will be no public offering in the United States.