Delhivery has launched a same-day delivery system in 15 cities across India. Direct to consumer or D 2 C brands will be able to deliver website orders on the same day the order is received.
On two fronts, Delhivery hopes to succeed on one of two fronts with the announcement: one, the faster delivery in a few hours will improve the consumer experience, and two, the speedier delivery time will reduce the return rates, improving the brands margins.
Delhivery, a logistics unicorn that started trading on the public market recently, plans to partner with brands to identify stock-keeping units such as warehouses within the city where the delivery is to happen.
Ajith Pai, Chief Operations Officer at Delhivery, said that we always innovate with technology-led solutions. This solution will allow D 2 C brands to leverage their technology and supply chain capabilities to meet the evolving needs of their consumers. The IPO of Delhivery opened on May 11, with an issue size of Rs 5,235 crore. The IPO consisted of a new issue of Rs 4,000 crore and an offer for sale of Rs 1,235 crore. The supply chain company's initial share sale of Rs 5,235 crore was subscribed to 163 per cent on the third day of the IPO. According to BSE data, the IPO received a bid for 10,16, 82,330 shares against 6,25, 41,023 shares on offer.
The portion reserved for individual retail investors received a 0.57-time subscription. The company said 48,187, 860 equity shares were allocated to anchor investors at the 'anchor investor allocation price' of Rs 487 per equity share. The company raised more than 2,347 crore from 64 anchor investors on May 10.
On Friday, the share price of Delhivery was down 1.38 per cent at Rs 485.30.