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<ul><li><keyword id="11931339" type="General" weightage="20" keywordseo="delhivery" source="Orion">Delhivery</keyword> has reportedly acquired <keyword id="6830795" type="General" weightage="20" keywordseo="spoton" source="Orion">Spoton</keyword> in an all cash deal worth $300 million</li><li>Spoton is Delhivery’s second acquisition this year, after Primaseller.</li><li>Delhivery claims to have fulfilled more than 850 million transactions to date and works with over 10,000 direct customers.</li></ul>Logistics company Delhivery is looking to strengthen its business-to-business (B2B) vertical ahead of its planned initial public offering (IPO) with the acquisition of Bengaluru-based <keyword id="6713107" type="General" weightage="20" keywordseo="spoton-logistics" source="Orion">Spoton Logistics</keyword>. <br /><br />Spoton Logistics is an engineering and technology-driven logistics company, which was founded in 2012 after private equity firm India Equity Partners (IEP) bought the domestic business from TNT India. Samara Capital and Xponentia, who together acquired Spoton from IEP in 2018, are making a full exit for cash as part of the transaction.<br /><br />The duo has not shared any transactional details of this acquisition. However, an Economic Times <a href="https://economictimes.indiatimes.com/tech/startups/delhivery-acquires-spoton-logistics-ahead-of-planned-ipo/articleshow/85617746.cms">report</a> citing anonymous sources highlighted that it is an all-cash deal worth $300 million.<br /><br />According to the company’s LinkedIn page, Spoton has operations across more than 350 locations covering over 22,000 pin codes. The nine-year-old startup services customers in an array of industries including hi-tech, automotive, engineering, pharmaceutical, electronics and electricals, and lifestyle, retail and e-commerce.<br /><br />Abhik Mitra, managing director of Spoton, said that the company is known for its focus on customer relationships and service quality, professional management and technology and engineering, “which are values shared by Delhivery as well.”<br /><br />Commenting on the same, Sahil Barua, chief executive of Delhivery said in a press note, "This development is consistent with our objective of being growth-oriented and building scale in each of our business lines. Over the last 10 years, Delhivery has established a leading position in B2C logistics, and now by combining our truckload business with Spoton's, we will be on the path to the same position in B2B express as well.” <br /><br />Delhivery had also acquired software-as-a-service (SaaS) platform Primaseller in March 2021. The acquisition of Primaseller helped the IPO-bound company to strengthen its long-term vision of becoming an operating system for commerce in India.<br /><br />Founded by Mohit Tandon, Sahil Barua, Bhavesh Manglani, Kapil Bharati and Suraj Saharan in 2011, Delhivery claims to have fulfilled more than 850 million transactions to date and works with over 10,000 direct customers.<br /><br />The company is reportedly planning to go public in 2021. Two of the company’s co-founders — Manglani and Tandon — have already stepped out of the company, reportedly to meet regulatory requirements before starting their initial public offering (IPO) process.<br /><br />The company raised <a href="https://www.businessinsider.in/business/startups/news/100-million-investment-in-delhivery-will-help-fedex-gain-prominence-in-india/articleshow/84471579.cms">$100 million</a> last month from FedEx Express, a subsidiary of the global logistics giant FedEx Corporation. This is FedEx’s first such strategic investment in an Indian company.<br /><br />Delhivery has raised somewhere around $1.24 billion to date, from marquee investors like SoftBank Vision Fund, Tiger Global Management, Times Internet, The Carlyle Group and Steadview Capital. It entered the <a href="https://www.businessinsider.in/delhivery-raises-395-million-from-softbank-enters-the-unicorn-club-of-india/articleshow/68287009.cms">unicorn club back in 2019</a>, after raising $413 million from SoftBank and others.<br /><br /><strong>SEE ALSO</strong><br /><a href="https://www.businessinsider.in/stock-market/news/zerodha-founder-shares-lessons-from-disappointing-listings-of-cartrade-aptus-chemplast-and-nuvoco-vistas-ipo/articleshow/85614310.cms">Cut the price or wait a bit ⁠— what the market is telling IPO aspirants</a><br /><a href="https://www.businessinsider.in/business/corporates/news/renew-power-gets-listed-on-us-exchange-nasdaq/articleshow/85614772.cms">India's largest renewable energy producer is now a $4.5 billion company listed on Nasdaq</a><br />

IPO-bound Delhivery buys another logistics company to strengthen its business offering

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.pjtra.com/t/TUJGR0VGTkJGSEhLR01CRkxJRk5O?url=https%3A%2F%2Fwww.dailylook.com" target="_blank" rel="noopener"></a><p class="source"><span>Dailylook</span></p></div><p></p></div></div></p><ul class="summary-list"><li>I don't enjoy shopping, but I do still have opinions about and want control over what I wear. I love personal styling services because they choose clothing for me while taking into consideration my style and preferences. </li><li>I tried one called <a href="https://www.pjtra.com/t/TUJGR0VGTkJGSEhLR01CRkxJRk5O?url=https%3A%2F%2Fwww.dailylook.com" target="_blank" rel="noopener">Dailylook</a>, which used my personal Style Profile, a proprietary algorithm, and a full-time stylist to send me a box of clothing it thinks I'll like.</li><li>On the spectrum of personal styling services, Dailylook is on the more premium end. The styling fee is $40 per month, clothing starts at $60 per item, and some standout brands include Mara Hoffman, Maison Scotch, and Badgley Mischka. </li><li>The cost is worth it - it's highly likely you'll find something you love (I ended up keeping three of my pieces), and the convenience is unparalleled. </li></ul><p>Though I write about products every single day, I'm actually not a huge shopper in my personal life. Shopping for clothing in particular tires me out, and after a couple hours of sifting through racks and sweating profusely in small dressing rooms, I'm ready to grab a drink and call it a day. </p><p>Personal styling services were basically made for shopping haters like me. Online shopping by myself, while much more convenient, can still be overwhelming. But I wouldn't want to forego shopping altogether and just wear a T-shirt and jeans every day.</p><p>An online service such as <a href="https://www.pjtra.com/t/TUJGR0VGTkJGSEhLR01CRkxJRk5O?url=https%3A%2F%2Fwww.dailylook.com" target="_blank" rel="noopener">Dailylook</a> is the best solution for someone who simultaneously doesn't enjoy shopping, has an opinion about her personal style, and wants to have some say and control over her wardrobe.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.pjtra.com/t/TUJGR0VGTkJGSEhLR01CRkxJRk5O?url=https%3A%2F%2Fwww.dailylook.com" target="_blank" rel="noopener"></a><p class="source"><span>Dailylook</span></p></div><p></p></div></div></p><p>The premium clothing subscription box, which is delivered monthly, contains clothing pieces that are curated based on the user's body shape, lifestyle, and aesthetic preferences. Dailylook uses a mix of proprietary algorithms and human stylists to curate these picks, and it's a system that works really well - its customers receive something they like and purchase it 80% of the time. </p><p>Dailylook's team is ultra-efficient about its operations: each month, its buying team has a given budget to buy just the right amount and assortment of merchandise to service its clients. As founder Brian Ree points out, this process "is <span>not all that different from having your own personal stylist go out with a budget and do your shopping offline for you. [But] it takes almost all of the hard work, logistics, and guess-work out of shopping for yourself." </span><span></span></p><h2>Why Dailylook is different</h2><p>You've probably heard about other services like <a href="https://www.businessinsider.com/stitch-fix-personal-styling-overview" target="_blank" rel="noopener">Stitch Fix</a> or <a href="https://www.businessinsider.com/trunk-club-womens-review-nordstroms-personal-styling-service-2018-6" target="_blank" rel="noopener">Trunk Club</a> that sell the same idea. Dailylook distinguishes itself with premium brands like Mara Hoffman and Badgley Mischka, and the use of full-time stylists. At other personal styling services, it's common for stylists to be part-time or ad-hoc hires, which does offer stylists more flexibility, but may prevent them from fully understanding and engaging with the brand.</p><p>Dailylook's stylists are always interacting with clothing and clients from the brand, giving them the opportunity to develop genuine relationships with customers. While the online platform is still a degree of separation that prevents the service from being fully human and personal, this intentional use of full-time stylists injects life into an otherwise algorithm-heavy service. </p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.pjtra.com/t/TUJGR0VGTkJGSEhLR01CRkxJRk5O?url=https%3A%2F%2Fwww.dailylook.com" target="_blank" rel="noopener"></a><p class="source"><span>Dailylook</span></p></div><p></p></div></div></p><h2>How Dailylook works</h2><p>I went through the process of ordering and tried a Dailylook box for myself. Here's what the process looks like: </p><p><strong>1.  Fill out your Style Profile. </strong></p><p>Like all other personal styling services, Dailylook needs to learn more about you first. It asks standard questions like your clothing sizes, favorite brands that you currently wear, what areas of your body you want to show off or keep covered, and your budget for each type of clothing. The more detailed you are with your responses, the better your Dailylook stylist will be able to pick out clothes for you. </p><p>Afterwards, you can browse the "New Looks" section on the site, which is filled with completed outfits that you can favorite. Your favorites will further help your stylist figure out your tastes. </p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.pjtra.com/t/TUJGR0VGTkJGSEhLR01CRkxJRk5O?url=https%3A%2F%2Fwww.dailylook.com" target="_blank" rel="noopener"></a><p class="source"><span>Dailylook</span></p></div><p></p></div></div></p><p><strong>2. Receive your box at the door. </strong></p><p>All your clothes come in a blue gift box, which I thought was a nice touch and made the shipment feel like a special treat. It comes with a bag with a prepaid return shipping label for all the clothes you decide not to keep. </p><p><strong>3. Try on everything and decide what you want to keep. </strong></p><p>The styling fee for each box is $40, which can be used as credit towards any clothing piece you decide to keep. </p><p>I received 12 pieces total in my box. They included pants, tops, dresses, and jumpsuits, and I ended up keeping three items - a <a href="https://www.pntra.com/t/TUJGR0VGTkJGSEhLR01CRkxJRk5O?url=https%3A%2F%2Fwww.dailylook.com%2Fsite%2Fproduct%3Fpid%3D180957" target="_blank" rel="noopener">light cami</a> for casual summer days, a <a href="https://www.pjatr.com/t/TUJGR0VGTkJGSEhLR01CRkxJRk5O?url=https%3A%2F%2Fwww.dailylook.com%2Fsite%2Fproduct%3Fpid%3D167476" target="_blank" rel="noopener">comfortable and stretchy jumpsuit</a> that could be dressed up or down, and a <a href="https://www.pntrac.com/t/TUJGR0VGTkJGSEhLR01CRkxJRk5O?url=https%3A%2F%2Fwww.dailylook.com%2Fsite%2Fproduct%3Fpid%3D158187" target="_blank" rel="noopener">bright pink dress</a> that would look excellent at weddings and cocktail hours. </p><p>Overall, the fit of all the pieces were spot-on, and there were no major discrepancies between what my Style Profile relayed and the pieces I received. Compared to a service like <a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=54296&amp;urllink=www.renttherunway.com%2F" target="_blank" rel="noopener">Rent the Runway</a>, which encourages <a href="https://www.businessinsider.com/rent-the-runway-unlimited-review" target="_blank" rel="noopener">taking risks on ultra-trendy pieces</a>, Dailylook is better for finding quality investment pieces that you'll wear often (especially considering you're paying to own them). </p><p>Each item in the box will cost at least $60, so keep that price in mind as you consider trying Dailylook. If you have a lower budget, we recommend trying <a href="https://www.businessinsider.com/stitch-fix-personal-styling-overview" target="_blank" rel="noopener">Stitch Fix</a> or <a href="https://www.businessinsider.com/trunk-club-womens-review-nordstroms-personal-styling-service-2018-6" target="_blank" rel="noopener">Trunk Club</a> - their offerings start at $25 each. The merchandise comes from a mix of premium brands and Dailylook's own in-house brands. </p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.pjtra.com/t/TUJGR0VGTkJGSEhLR01CRkxJRk5O?url=https%3A%2F%2Fwww.dailylook.com" target="_blank" rel="noopener"></a><p class="source"><span>Dailylook</span></p></div><p></p></div></div></p><p><strong>4. Keep your favorites, and send back everything you didn't love. </strong></p><p>You have five days after delivery to try everything and send back your returns.</p><p>Since my box included some heavier and thicker pieces like a sweater and jeans, it was a bit of squeeze trying to fit all my returns into the provided bag. I wish the bag were bigger, but the company advised me that I could also return everything in the blue box instead. </p><p>Make sure also to give your feedback online. Dailylook says 50% of its business is based off of user feedback. </p><p><strong>5. Rinse and repeat. </strong></p><p>By default, you're scheduled for one personal styling box a month. However, you can skip a month, change your delivery date, pause your subscription, or cancel your subscription whenever you want. You can also change your stylist if you feel like your current one isn't a match. </p><h2>Is Dailylook right for you?</h2><p>If you like owning stylish clothes from premium brands, but don't want to put in the work of shopping for said clothes, you're the ideal candidate for Dailylook. The process of filling out your Style Profile doesn't take long, and you have a generous amount of time to try out the clothing in your own home. It's easy and convenient to use because you can control when you want to receive your box, plus you're never married to the stylist you're paired with. </p><h3><a href="https://www.pjtra.com/t/TUJGR0VGTkJGSEhLR01CRkxJRk5O?url=https%3A%2F%2Fwww.dailylook.com" target="_blank" rel="noopener">Use code "</a><span><a href="https://www.pjtra.com/t/TUJGR0VGTkJGSEhLR01CRkxJRk5O?url=https%3A%2F%2Fwww.dailylook.com" target="_blank" rel="noopener"><strong>ITRIEDIT20</strong>" to receive $20 off your first Dailylook order here</a> </span></h3><p class="tagline"><p><a href="http://e.businessinsider.com/join/ci/insider-picks">Subscribe to our newsletter.</a><br><br>Find all the best offers at our <a href="https://coupons.businessinsider.com/">Coupons page</a>.<br><br>Disclosure: This post is brought to you by the <a href="http://www.businessinsider.com/insiderpicks">Insider Picks</a> team. We highlight products and services you might find interesting. If you buy them, we get a small share of the revenue from the sale from our commerce partners. We frequently receive products free of charge from manufacturers to test. This does not drive our decision as to whether or not a product is featured or recommended. We operate independently from our advertising sales team. We welcome your feedback. Email us at insiderpicks@businessinsider.com.</br></br></br></br></p></p>

I tried Dailylook, a personal-styling service that sends curated boxes of clothing to try on at home - the brands it carries are on the pricey side, but the selections were spot-on

<ul><li>While <a href="https://www.businessinsider.in/business/corporates/news/delhivery-is-nothing-like-zomato-or-paytm-credit-suisse-expects-the-stock-to-outperform/articleshow/91957394.cms">Credit Suisse </a> gave <keyword id="11931339" type="General" weightage="20" keywordseo="delhivery" source="Orion">Delhivery</keyword> an ‘outperform’ rating, IIFL Securities advised investors to sell out the stock saying that it’s walking a tightrope.</li><li>On June 2, Credit Suisse gave a bullish view on the stock and at the same time IIFL Securities highlighted the poor performance of Delhivery and recommended investors to sell the stock.</li><li>Delhivery’s journey in the stock market shows it is clearly struggling to gain investor confidence.</li></ul>At this point in time, logistics company Delhivery can go either ways — inch towards profitability or get mired in more losses or take too long to deliver its promise. Moreover, two major brokerages gave contrasting views on how its future will pan out. <br /><br />While <a href="https://www.businessinsider.in/business/corporates/news/delhivery-is-nothing-like-zomato-or-paytm-credit-suisse-expects-the-stock-to-outperform/articleshow/91957394.cms">Credit Suisse </a> gave it an ‘outperform’ rating, IIFL Securities advised investors to sell out the stock saying that it’s akin to walking a tightrope. <br /><br /><strong>Strong presence in the e-commerce industry<br /></strong>Delhivery has a 25% strong market share within the e-commerce industry with top clients like Amazon, Meesho, Flipkart and similar others. Its asset-light model combined with technology and automation shows that it has attractive growth prospects ahead. <br /><br />While this gives it an edge and first mover advantage in a growing express parcel service market – 44% of its business comes from five customers with heavy dependence and concentration. <br /><br />“The company doubled parcel volumes in FY22; gaining strong market share of 24-25% in the third quarter FY22 in all e-commerce parcel volumes and almost 60-65% in ex-captive. Delhivery has a common mesh network and various services generate virtuous synergies for all others. Its evolving in-house technology platform supports its entire operations,” said Credit Suisse. <br /><br />It also made a play for the B2B logistics space by acquising Spoton with express delivery, supply chain and cross-border offerings. This expansion was funded by various rounds of fund infusion. <br /><br />On the other hand, IIFL believes that Delhivery’s focus on automation, scale and vigour for growth is good but could face execution challenges. It believes that the risk-reward ratio is unfavourable, and hence investors should wait for a better entry point. <br /><br />“At current valuations, the stock seems to be pricing-in seamless execution of the strategy to integrate complex business, contain costs, pass on scale related benefits to consumers and yet turn profitable,” said analysts at IIFL Securities in their maiden report on the company. <br /><div type="image" title="delhivery chart" height="900" width="1200" msid="91987660" hostid="261"></div><strong><br />Internet company or a logistics company? <br /></strong>Credit Suisse however backs its valuation and believes that the share price will zoom by 26% in a year. It believes that Delhivery is bound to achieve profitability as the sector is ripe to achieve profitability. The company strengthened its accessibility, infrastructure, execution process over the years especially after acquisition of Spoton. <br /><br />“We prefer Delhivery to other internet peers, with no customer acquisition cost, diversified growth – e-commerce and broader logistics; and cheaper valuation for the same growth play,” said Credit Suisse. <br /><br />IIFL however compares Delhivery with other logistics players instead. Other niche logistics sector-players, it says, compete on differentiated services but Delhivery competes on price alone — and its wafer thin margins could affect its profitability going ahead. <br /><br />“With around 85% of overall costs being variable, it needs to be seen how Delhivery intends to improve its operating efficiency, gain leverage, pass on the chunk of such gains to consumers, and yet log a meaningful Ebitda margin in the absence of any significant price increase,” IIFL says. <br /><br />Delhivery too pegs its valuation with other consumer tech companies instead of logistics players like Blue Dart. <br /><br />“If you think of us as a consumer-tech company, then we are grossly undervalued. Because if you look at all those consumer-tech firms listed recently, their revenues are not growing as much as ours. Our revenues are 4x of those companies; we are growing at 65% pace along with operating profitability," said Sandeep Barasia, chief business officer at Delhivery in an interview to <a href="https://www.livemint.com/companies/start-ups/delhivery-aims-to-turn-cash-flow-positive-in-6-8-qtrs-11654019289784.html">Mint</a>. <br /><br />However, even those who agree to treat it like a consumer tech company, too seem to have their reservations. It all comes down to the sector it belongs to how much leeway can be provided over the fact that it is still loss-making. <br /><br />Delhivery’s losses have come down by 43% to ₹1,011 crore in FY22, as compared to where it was three years back but a few believe its losses don’t justify its valuations. <br /><br />“From the fundamental point of view, Delhivery is still a loss making company with really no clear path to showing profitability. The PE ratio with FY22 numbers was very high at 100-130 range so being so overvalued, the numbers and fundamentals don’t really justify the price that we are looking at,” Neha Khanna, Director told Business Insider India. <br /><br /><br /><strong>SEE ALSO: </strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indian-billionaires-held-on-to-99-of-their-wealth-while-rest-of-the-world-lost-over-1-trillion-in-2022/articleshow/91981767.cms">Indian billionaires held on to 99% of their wealth while rest of the world lost over $1 trillion</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/news/inox-leisure-pvr-has-high-hopes-from-its-future-but-its-mostly-based-on-good-movies/articleshow/91980544.cms">Brahmastra, Laal Singh Chaddha and Avatar — movies that can determine the fortunes of INOX and PVR</a>

The curious case of diverse brokerage views on Delhivery — explained

<ul><li>Delhivery has decided to enter the drone technology space directly with the acquisition of US-based Transition Robotics Inc.</li><li>California-based Transition Robotics is focused on building drone or Unmanned Aerial System (UAS) platforms.</li><li>Delhivery is also working with the cargo division of airline firm Spicejet, SpiceXpress, to build <keyword id="2061285" type="General" weightage="20" keywordseo="drone-delivery" source="Orion">drone delivery</keyword> capability.</li></ul>Logistics company Delhivery has decided to enter the drone technology space directly with the acquisition of US-based Transition Robotics Inc, ahead of its initial public offering (IPO) scheduled for next year. <br /><br />California-based Transition Robotics is focused on building drone or Unmanned Aerial System (UAS) platforms — including from hardware to software design to testing, validation, and manufacturing.<br /><br />“While we continue to build our supply chain platform, we must look at the long-term developments poised to shape the industry. Bringing TRI [Transition Robotics Inc] onboard gives us a chance to get directly involved with core drone technology as regulations and use cases for drones are evolving in the country,” Kapil Bharati, chief technology officer at Delhivery, said. <br /><br />The development comes as Delhivery is preparing to start drone delivery trials in India. The company had signed an agreement with cargo division of airline firm Spicejet, SpiceXpress, earlier this year to build drone delivery capability in the country.<br /><br />The two companies — SpiceXpress and Delhivery — have formed one of the consortiums shortlisted by the Directorate General of Civil Aviation (DGCA) to conduct trials on Beyond Visual Line of Sight (BVLOS) drones in India. <br /><br />Zomato, Swiggy, Dunzo, Flipkart and others will also be testing their drone capabilities in separate consortiums.<br /><br />Transition Robotics is Delhivery’s third big acquisition this year. The company had previously acquired software-as-a-service (SaaS) platform Primaseller in March 2021 to strengthen its long-term vision of becoming an operating system for commerce in India. <br /><br />It acquired Spoton Logistics five-months-later to strengthen its customer relationships and service quality, professional management and technology and engineering.<br /><br />The decade-old logistics startup filed its draft red herring prospectus (DRHP) in November to <a href="https://www.businessinsider.in/business/startups/news/logistics-startup-delhivery-files-for-a-nearly-1-billion-ipo/articleshow/87481889.cms">raise ₹7,460 crore</a> via the IPO.<br /><strong><br />SEE ALSO</strong><br /><a href="https://www.businessinsider.in/business/news/zoho-freshworks-and-top-indian-saas-companies-have-given-500-entrepreneurs-to-the-indian-startup-ecosystem/articleshow/88145310.cms" data-type="tilCustomLink">Zoho, Freshworks and top Indian SaaS companies have given 500 entrepreneurs to the Indian startup ecosystem</a><br /><br /><a href="https://www.businessinsider.in/investment/news/humanoid-robot-sophia-is-entering-the-metaverse-with-intelligent-nfts/articleshow/88156738.cms" data-type="tilCustomLink">Humanoid robot Sophia is entering the metaverse with ‘intelligent’ NFTs</a><br /><br /><a href="https://www.businessinsider.in/policy/news/here-is-what-to-expect-from-the-rbi-monetary-policy-today/slidelist/88150941.cms" data-type="tilCustomLink">Six charts explain what the market expects from the RBI’s monetary policy review</a><br />

Delhivery gets closer to drone delivery with the acquisition of an American company

<ul><li>Logistics startup <keyword id="11931339" type="General" weightage="100" keywordseo="delhivery" source="Orion">Delhivery</keyword> is opening its IPO from tomorrow May 11 with a price band of ₹462 to ₹487 per share.</li><li>The company has reduced issue size to ₹5,235 crore from ₹7,460 crore it had decided earlier because of volatile market conditions, and the ₹21,000 crore LIC IPO which could suck out the liquidity from the market.</li><li>Analysts think that the <keyword id="6661978" type="General" weightage="20" keywordseo="delhivery-ipo" source="Orion">Delhivery IPO</keyword> is on the expensive side and hence recommend investors to avoid it.</li></ul>Logistics and supply chain company Delhivery is all set to launch its ₹5,235 crore initial public offering (IPO) tomorrow from May 11 to May 13. <br /><br />The company has reduced issue size to ₹5,235 crore from ₹7,460 crore it had decided earlier because of <a href="https://www.businessinsider.in/stock-market/news/delhivery-ipo-size-cut-down-by-a-third-due-to-market-volatility-and-lic-ipo-say-analysts/articleshow/91348072.cms">volatile market conditions</a> and the <a href="https://www.businessinsider.in/stock-market/news/lic-issue-opens-today-check-out-the-important-dates-and-details-of-the-ipo/articleshow/91295617.cms">₹21,000 crore LIC IPO </a>which could suck out the liquidity from the market.<br /><br />Delhivery’s public issue, which aims at mopping up INR 5,235 crore from the market, includes ₹4,000 crore worth fresh equity shares and ₹1,235 crore via sale of shares by existing investors via the offer for sale (OFS) route. Shareholders like Carlyle, Japanese Softbank, Fosun group-owned China Momentum Fund and Times Internet will sell some of their shares in the IPO.<br /><br />Delhivery provides a full range of logistics services, including express parcel delivery, heavy goods delivery, PTL freight, TL freight, warehousing, supply chain solutions, and cross-border services, among others.<br /><br /><strong>Delhivery is raising funds to fuel its future growth<br /></strong><br />The company has proposed to use the net proceeds from the IPO to fund its acquisitions and expansion plans, with an eye on future growth.<br /><br />In August 2021, Delhivery had acquired Spoton to scale their PTL freight services business. <br /><br />The company’s express parcel delivery network services 17,500 pincodes, covering 90.6% of the total 19,300 pincodes in India.<br /><br />The size of the company's active customers have grown four times in the last three financial years along with good growth in pincode reach and delivery points.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pincode reach<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16,677<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15,875<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13,485<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infrastructure (in million square feet) <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.23<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.85<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.96<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of delivery points<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,382<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,973<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,258<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Team size<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">53,086<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40,416<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28,830<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of active customers<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16,741<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,957<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4,867<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><em>Source: Delhivery DRHP</em><br /><br /><strong>What are the analysts saying – should you subscribe to the Delhivery IPO or not?<br /></strong><br />However, despite meaningful growth in its service offerings and revenue, Delhivery is still incurring losses. This is one of the reasons some analysts have recommended investors to skip the IPO.<br /><br />Analysts at BP Equities suggest investors avoid the IPO, saying that it is similar to <a href="https://www.businessinsider.in/stock-market/news/zomato-policybazaar-nykaa-and-paytm-shares-witness-sharp-corrections/articleshow/91365062.cms">new age firms like Zomato, PayTM </a>which have disappointed investors and wiped out a considerable portion of their investments.<br /><br />At the upper end of the price band, the issue is aggressively priced, says a report by BP Equities.<br /><br />“Despite an improvement in the topline, the company continues to make losses. As we are witnessing the negative market sentiment towards the similar category stocks (Zomato, PayTM), we suggest investors to “Avoid” this issue,” added the report.<br /><br />It is worth mentioning that although the company is still not profitable, its losses have reduced by four times in FY 2021-22 when compared to FY 2019-20.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,838 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹415 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,988 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹268 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,694 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹1,783 crore <br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><em>Source: Delhivery DRHP</em><br /><br />Despite appreciating the company’s revenue growth, analysts at Angel One aren’t bullish, yet.<br /><br />“In the Indian markets, no other peer group has the same business model as Delhivery. It has reported good revenue growth of 82% in nine months of FY2022 and it is expected that company may turn EBITDA positive by FY2022 end. Given the expensive valuation, we are assigning a NEUTRAL recommendation to the Delhivery IPO,” said a report by brokerage Angel One.<br /><br />Seconding the views, analysts at Choice Broking have assigned “Subscribe with Caution” rating for the issue considering the company’s loss making operations. <br /><br /><strong>SEE ALSO: </strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/top-10-loss-making-startups-in-india-in-2021-from-oyo-to-phonepe-and-paytm-heres-the-list/slidelist/91469854.cms">Top 10 loss making startups in India in 2021 – from Oyo to PhonePe and Paytm, here’s the list</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/heres-why-adani-and-jsw-group-are-racing-to-acquire-ambuja-cements-and-acc-from-holcim/articleshow/91465197.cms">Here's why Adani and JSW Group are racing to acquire Ambuja Cements and ACC from Holcim</a>

Delhivery delivers parcels to over 90% of India, but will its IPO deliver returns to its investors? Here’s what the analysts are saying

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Apple's long-awaited smartwatch drops on April 24, 2015, although there are now rumours about problems with production of the device.</p><p>One source Apple Insider spoke to who is "familiar with Apple's internal logistics" <a href="http://appleinsider.com/articles/15/03/23/source-apple-watch-will-see-constraints-at-launch-but-reports-of-late-production-issues-overblown">told the tech blog that the Apple Watch has had production issues</a> "at every stage of development."</p><p>There's also <a href="http://uk.businessinsider.com/apple-cutting-apple-watch-shipments-2015-3?r=US">been reports from Taiwanese news site UDN Mobile</a> that the Cupertino company may have to cut initial shipments in half - <a href="http://9to5mac.com/2015/03/23/apple-watch-manufacturing-problems/">though as 9to5Mac notes, the site hasn't always been spot-on with its rumours</a>. (And other manufacturers could also help alleviate the strain of production issues if necessary.)</p><p><a href="http://appleinsider.com/articles/15/03/23/source-apple-watch-will-see-constraints-at-launch-but-reports-of-late-production-issues-overblown">But what Apple Insider is hearing seems to confirm</a> that Apple is running into some issues with the Apple Watch, its first foray into a new product category in five years. There will reportedly be shortages of the device at launch, but these yield issues "are not a surprise to Apple's top brass," according to the website.</p><p>While still in development, <a href="http://uk.businessinsider.com/apple-cuts-features-from-apple-watch-2015-2">the Apple Watch was referred to internally as a "black hole" because of the way it kept sucking in additional resources and employees</a>. Even after four years of secret development, Apple still had to nix some of the health-tracking features it wanted to include, because it couldn't account for variations in skin texture and how tightly it was worn.</p><p>Apple's last new product category was the iPad, back in 2010. Five years later, there's a massive degree of both hype and uncertainty over the Apple Watch. <a href="http://uk.businessinsider.com/analyst-estimates-on-apple-watch-shipments-2015-3">Analysts are wildly divided in their estimates of how many devices Apple will be able to sell</a>, and there's still no one single "killer app" making the Apple Watch a must-have.</p><p><a href="http://uk.businessinsider.com/how-jony-ive-made-apple-a-luxury-goods-company-2015-3">Apple design guru Jony Ive has been a driving force behind the Apple Watch</a>. A former colleague told the New Yorker that Ive has "always been a bit bling" and "always wanted to do luxury."</p><p>T<span style="line-height: 1.5em;">he design legend is finally getting his way, </span><span style="line-height: 1.5em;">but it doesn't look like it's going to be clean sailing.</span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/tim-cook-apple-watch-details-specs-price-2015-3">Here's Tim Cook answering all your questions about the Apple Watch</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="F2bDl1czptmklDn5ObZuJSYj7EUxkvjn" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

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