Delhivery, 2 Chennai companies get Sebi nod for listing

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NEW DELHI/CHENNAI: The number of companies in India looking to go public is set to increase. New age logistics player Delhivery, along with two Chennai-based companies – Radiant Cash Management Services, an integrated cash logistics firm, and Veranda Learning Solutions, an ed-tech company – have received approval from the Securities and Exchange Board of India (Sebi) to raise funds through the initial public offer (IPO) route.
Gurgaon-based Delhivery plans to raise Rs 7,460 crore through the IPO, including fresh issuance of equity shares worth Rs 5,000 crore and an offer for sale (OFS) component of Rs 2,460 crore by existing shareholders, according to the company’s draft red herring prospectus (DRHP). Under the OFS, private equity fund Carlyle, Japan’s SoftBank, Times Internet (Times Internet is part of the Times Group, which publishes The Times of India) as well as Delhivery’s…

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