Basis of Allotment

THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY. THIS IS NOTA PROSPECTUS ANNOUNCEMENT AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE TO SECURITIES. NOT FOR RELEASE PUBLICATION AND DISTRIBUTION, DIRECTLY OR INDIRECTLY, OUTSIDE INDIA.

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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').

Corporate Identity Number: U63090DL2011PLC221234
Registered Office N24-N34, S24-S34, Air Cargo Logistics Centre-II, Opposite Gate 6 Cargo Terminal, Indira Gandhi International Airport, New Delhi 110037 Delhi, India.
Corporate Office: Plot 5, Sector 44, Gurugram 122002 Haryana. India: Contact Person: Sunil Kumar Bansal, Company Secretary and Compliance Officer; Tel: +91 124 6225602
E-mail: coroorateaffairs@delhrvefy.com: Website: www.delhivery.com
OUR COMPANY DOES NOT HAVE AN IDENTIFIABLE PROMOTER

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.

BASIS OF ALLOTMENT

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

OFFER PRICE AND THE ANCHOR INVESTOR OFFER PRICE: Rs. 487 PER EQUITY SHARE OF FACE VALUE OF Rs. 1 EACH.
EMPLOYEE DISCOUNT: Rs. 25 PER EQUITY SHARE ON THE OFFER PRICE.
THE OFFER PRICE AND THE ANCHOR INVESTOR OFFER PRICE IS 487 TIMES THE FACE VALUE OF THE EQUITY SHARES.
Risks of Investors
a. Our Company has incurred restated losses for the year/period of Rs. 17,833.04 million, Rs. 2,689.26 million, Rs. 4,157.43 million, Rs. 2,974.92 million and Rs. 8,911.39 million in Fiscal 2019, Fiscal 2020 and Fiscal 2021 and the nine months periods ended December 31, 2020 and December 31, 2021, respectively.
b. Weighted Average Return on Net Worth for Fiscals 2021, 2020, 2019 is negative 18.93%.
c. The average industry Price / Earnings ratio is 112.21 times but the Price / Earnings ratio based on diluted EPS (consolidated) for Fiscal 2021 for our Company is not ascertainable as the EPS is negative.
d. Industry composite EV/Annualized FY22 Revenue multiple is 3.68 times while our multiple will be higher at 4.62 times at the Cap Price and 4.37 times at the Floor Price.
e. Our acquisition of Spoton Logistics Private Limited was completed on August 24, 2021 at EV/ Revenue multiple of 2.02 times while our multiple will be higher at 4.62 times at the Cap Price and 4.37 times at the Floor Price.
f. Average cost of acquisition of Equity Shares held by the Selling Shareholders ranges from Rs. 0.10 per Equity Share to Rs. 196.19 per Equity Share and Offer Price at upper end of the Price Band is Rs. 487 per Equity Share.
g. The weighted average cost of acquisition of all shares transacted in last three years and one year preceding the date of the Red Herring Prospectus is as follows:
Period Weighted Average Cost of Acquisition (in Rs.) Cap Price is ‘X' times the Weighted Average Cost of Acquisition Range of acquisition price: Lowest Price- Highest Price (in Rs.)
Last one year 148.38 3.28 Nil**- 400.00
Last three years 162.46 3.00 Nil**-400.00

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

h. The details of EPS. RoNW and NAV as on and for the period ended March 31, 2021 is as follows:
Particulars Diluted Earnings/ Loss per share (Rs.) Return on Net Worth (%) Net Asset value per Share (Rs.)
Company (Delhivery) (8.05) (14.66) 54.79
Average of the listed peer group companies 24.41 15.08 147.34
i. The four Book Running Lead Managers associated with the Offer have handled 29 public issues in the past 3 years out of which 8 issues closed below the issue price on listing date.

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.

BID/OFFER PROGRAMME
ANCHOR INVESTOR BIDDING PERIOD WAS: MONDAY, MAY 10, 2022
BID/OFFER OPENED ON WEDNESDAY, MAY 11, 2022
BID/OFFER CLOSED ON FRIDAY, MAY 13, 2022

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):

CATEGORY NO OF APPLICATIONS NO OF EQUITY SHARES NO. OF EQUITY SHARES RESERVED (AS PER PROSPECTUS) NO OF TIMES SUBSCRIBED AMOUNT (Rs)
ANCHOR 64 49,012,170 48,187,860 1.0171 23,868,926,790.00
EMPLOYEE 1,230 79,440 432,900 0.1835 37,247,610.00
QIB 48 90,047,460 32,125,282 2.8030 43,853,113,020.00
HNI UPTO 10 LAKHS 341 206,280 5,354,209 0.0385 100,379,490.00
HNI ABOVE 10 LAKHS 64 461,610 10,708,419 0.0431 224,710,320.00
RETAIL 68,657 3,121,530 10,708,418 0.2915 1,521,526,260.00
TOTAL 70,404 142,928,490 107,517,088 1.3294 69,605,903,490.00

Final Demand

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

RATE EQUITY SHARES % to TOTAL CUMULATIVE TOTAL CUMULATIVE % TO TOTAL
462 1,66,050 0.16 166,050 0.16
463 9,210 0.01 175,260 0.17
464 4,050 0.00 179,310 0.18
468 3,570 0.00 218,670 021
469 3,030 0.00 221,700 022
470 45,870 0.05 267,570 026
471 1,530 0.00 269,100 0.26
472 6,840 0.01 275,940 0.27
479 1,170 0.00 321,150 0.32
480 27,270 0.03 348,420 0.34
484 1,170 0.00 354,570 0.35
485 13,650 0.01 368,220 0.36
486 10,110 0.01 378,330 0.37
487 95,801,310 94.00 96,179,640 94.37
9999 5,737,230 5.63 101,916,870 100.00
TOTAL 101,916,870 100.00

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

A. Allotment to Retail Individual Bidders (after technical rejections) (including ASBA Applications)
The Basis of Allotment to the Retail Individual Bidders, who have bid at the Offer Price of Rs. 487 per Equity Share, was finalized in consultation with the NSE. This category has been subscribed to the extent of 0.2703 times (after technical rejections and including spill over from Employee category). The total number of Equity Shares Allotted in Retail Portion is 2,894,310 Equity Shares to 63,443 successful applicants. The category-wise details of the Basis of Allotment are as under:
Category No. of Applications Received %of Total Total No. of Equity Shares Applied % to Total No. of Equity Shares Allotted per Bidder Ratio Total No. of Equity Shares Allotted
30 52,001 81.96 1,560,030 53.90 30 1:1 1,560,030
60 6,007 9.47 360,420 12.45 60 1:1 360,420
90 1,897 2.99 170,730 5.90 90 1:1 170,730
120 986 1.55 118,320 4.09 120 1:1 118,320
150 539 0.85 80,850 2.79 150 1:1 80,850
180 248 0.39 44,640 1.54 180 1:1 44,640
210 468 0.74 98,280 3.40 210 1:1 98,280
240 88 0.14 21,120 0.73 240 1:1 21,120
270 52 0.08 14,040 0.49 270 1:1 14,040
300 254 0.40 76,200 2.63 300 1:1 76,200
330 20 0.03 6,600 0.23 330 1:1 6,600
360 43 0.07 15,480 0.53 360 1:1 15,480
390 840 1.32 327,600 11.32 390 1:1 327,600
TOTAL 63,443 100.00 2,894,310 100.00 2,894,310
B. Allotment to Non-Institutional Bidders (UPTO 10 lakhs) (after technical rejections)
The Basis of Allotment to the Non-Institutional Bidders, who have bid at the Offer Prior of Rs. 467 per Equity Share or above was finalized in consultation with the NSE. The sub-category of the Non-Institutional Portion comprising Non-lnstitutional Bidders Bidding up to 10 Lakhs has been subscribed to the extent of 0.0367 times (after technical rejections and including spill over from Employee category). The total number of Equity Shares Allotted in this category is 196,680 Equity Shares to 325 successful Non- Institutional Bidders. The category-wise details of the Basis of Allotment are as under (Sample).
Category No. of Applications Received %of Total Total No. of Equity Shares Applied % to Total No. of Equity Shares Allotted per Bidder Ratio Total No. of Equity Shares Allotted
420 234 72.00 98,280 49.97 420 1:1 98,280
450 14 4.31 6,300 3.20 450 1:1 6,300
480 2 0.62 960 0.49 480 1:1 960
510 4 1.23 2,040 1.04 510 1:1 2,040
600 3 0.92 1,800 0.92 600 1:1 1,800
720 1 0.31 720 0.37 720 1:1 720
750 1 0.31 750 0.38 750 1:1 750
810 1 0.31 810 0.41 810 1:1 810
1,110 1 0.31 1,110 0.56 1,110 1:1 1,110
1,140 1 0.31 1,140 0.58 1,140 1:1 1,140
1,200 1 0.31 1,200 0.61 1,200 1:1 1,200
1,590 2 0.62 3,180 1.62 1,590 1:1 3,180
1,650 1 0.31 1,650 0.84 1,650 1:1 1,650
1,950 1 0.31 1,950 0.99 1,950 1:1 1,950
2,040 13 4.00 26,520 13.48 2,040 1:1 26,520
TOTAL 325 100 196,680 100 196,680
C. Allotment to Non-institutional Bidders (ABOVE 10 lakhs) (after technical rejections)
The Basis of Allotment to the Non-institutional Bidders, who have bid at the Offer Price of Rs. 437 per Equity Share or above was finalized In consultation with the NSE. The sub-category of the Non-Institutional Portion comprising Non-institutional Bidders Bidding above 10 lakhs has been subscribed to the extent of 0.0424 times (after technical rejections and including spill over from Employee category). The total number of Equity Shares Allotted in this category is 453,660 Equity Shares to 61 successful Mon- Institutional Bidders. The category-wise details of the Basis of Allotment are as under: (Sample)
Category No. of Applications Received %of Total Total Mo. of Equity Shares Applied %to Total No. of Equity Shares Allotted per Bidder Ratio Total No. of Equity Shares Allotted
2,070 32 52.46 66,240 14.60 2,070 1:1 66,240
2,160 1 1.64 2,160 0.48 2,160 1:1 2,160
2,250 1 1.64 2,250 0.50 2,250 1:1 2,250
2,400 2 3.28 4,800 1.06 2,400 1:1 4,800
2,550 1 1.64 2,550 0.56 2,550 1:1 2,550
2,760 1 1.64 2,760 0.61 2,760 1:1 2,760
4,320 1 1.64 4,320 0.95 4,320 1:1 4,320
5,010 1 1.64 5,010 1.10 5,010 1:1 5,010
9,900 1 1.64 9,900 2.18 9,900 1:1 9,900
10,260 1 1.64 10,260 2.26 10,260 1:1 10,260
20,520 7 11.48 143,640 31.66 20,520 1:1 143,640
24,990 2 3.28 49,980 11.02 24,990 1:1 49,980
30,780 1 1.64 30,780 6.78 30,780 1:1 30,780
82,110 1 1.64 82,110 18.10 82,110 1:1 82,110
TOTAL 61 100 453,660 100 453,660
D. Allotment to Eligible Employees (after technical rejections) (including ASBA Applications)
The Bases of Allotment to the Eligible Employees, who have bid at the Offer Price Rs.462 (at a discount of Rs. 25 per Equity Share offered to Eligible Employees) per Equity Share or above, was finalized in consultation with NSE. This category has been subscribed to the extent of 0.1063 times (after technical rejections). The total number of Equity Shares Allotted in this category Rs 46,020 Equity Shares to 426 successful applicants, The category-wise details of the Basis of Allotment are as under:
Category No. of Applications Received %of Total No. of Equity Total Shares Applied % to Total No. of Equity Shares Allotted per Bidder Ratio Total No. of Equity Shares Allotted
30 250 58.69 7,500 16.30 30 1:1 7,500
60 70 16.43 4,200 9.13 60 1:1 4,200
90 27 6.34 2,430 5.28 90 1:1 2,430
120 15 3.52 1,800 3.91 120 1:1 1,800
150 3 0.70 450 0.98 150 1:1 450
180 3 0.70 540 1.17 180 1:1 540
210 11 2.56 2,310 5.02 210 1:1 2,310
240 4 0.94 960 2.09 240 1:1 960
270 2 0.47 540 1.17 270 1:1 540
300 10 2.35 3,000 6.52 300 1:1 3,000
330 1 0.23 330 0.72 330 1:1 330
390 2 0.47 780 1.69 390 1:1 780
420 10 2.35 4200 9.13 420 1:1 4,200
480 1 0.23 480 1.04 480 1:1 480
510 1 0.23 510 1.11 510 1:1 510
660 1 0.23 660 1.43 660 1:1 660
750 1 0.23 750 1.63 750 1:1 750
810 1 0.23 810 1.76 810 1:1 810
1080 9 2.11 9.720 21.12 1080 1:1 9,720
TOTAL 426 100.00 46,020 100.00 46,020

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

E. Allotment to QIBs (Excluding Anchor Investors) (after technical rejections)
Allotment to QIBs, who have Bid at the Offer Price of RS 487 per Equity Share has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 2.8030 times of QIB Portion (including spill over from Employee category). As per the SEBI ICDR Regulations, Mutual Funds were Allotted 5% of the Equity Shares of Net QIB Portion available i.e., 2,785,936 Equity Shares and other QIBs were Allotted the remaining available Equity Shares i.e.. 52,932,759 Equity Shares on a proportionate basis. The total number of Equity Shares Allotted in the QIB Portion is 55,718,695 Equity Shares, which were allotted to 48 successful QIB Bidders The category-wise details of the Basis of Allotment are as under The category-wise details of the Basis of Allotment are as under:
CATEGORY FIS/BANKS MF'S IC'S NBFC'S AIF FPC VC'S TOTAL
ALLOTMENT - 30,437,419 - - 12,447 25,268,829 - 55,718,695

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.

F. Allotment to Anchor Investors
The Company, in consultation with the BRLMs has allocated 46187,860 Equity Shares to 54 Anchor Investors (through 64 Applications) at the Anchor Investor Offer Price on Rs. 487 per Equity Share in accordance with the SEBIICDR Regulation. This represents 60% of the QIB Portion.
CATEGORY FIBS/ BANKS MF'S IC'S NBFC'S AIF FPC OTHERS TOTAL
ALLOTMENT - 14,593,620 - - 784,620 32,809,620 - 48,187,860

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:

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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
For Delhivery Limited
On behalf of Board of Directors
Data: May 23, 2022 Sd/-
Place : New Delhi Company Secretary and Compliances Officer

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.

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