Delhivery launches a same-day delivery system in 15 cities in India

Logistics provider Delhivery has launched a same-day delivery system in 15 cities across India. This new service will allow direct to consumer (or D2C) brands to deliver their website orders on the very day the order is received.

Delhivery said it aims to succeed on two fronts with this announcement: one, the faster delivery in a few hours will significantly improve the consumer experience, which will, in turn, set the table for brand loyalty, and two, the speedier delivery time will reduce the return rates, improving the brands’ margins.

Delhivery, a logistics unicorn which started trading on the public market with its IPO recently, said it plans to partner with brands to identify stock-keeping units such as warehouses within the city where the delivery is to happen. 

Commenting on the announcement, Ajith Pai, Chief Operations Officer at Delhivery, said, “We consistently innovate with technology-led solutions. This solution will enable D2C brands to leverage our technology and supply chain capabilities to meet the evolving needs of their consumers.”

Meanwhile, the IPO of  Delhivery opened on May 11, with an issue size of the IPO pegged at 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 Rs 5,235 crore initial share sale of the supply chain company was subscribed 163 per cent on the third day of the IPO. The IPO received a bid for 10,16,82,330 shares against 6,25,41,023 shares on offer, according to BSE data on May 13.

The portion reserved for individual retail investors (RIIs) received 0.57 times the subscription. The segment for qualified institutional buyers' (or QIBs) got subscribed 2.66 times and the segment for non-institutional investors got subscribed 0.30 times.

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 over Rs 2,347 crore from 64 anchor investors on May 10.

On Friday June 17, the share price of Delhivery was trading down 1.38 per cent at Rs 485.30.