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The logistics service provider and supply chain startup, Delhivery, has fixed the price band for its initial public offering (IPO) at Rs 462-487 per share. The issue will open for subscription on Wednesday, May 11 and can be subscribed till Friday, May 13. The company has slashed its offer size to Rs 5,235 crore from Rs 7,460 crore as planned earlier. It will issue fresh equity shares worth Rs 4,000 crore and existing shareholders and promoters will offload shares worth Rs 1,235 crore. ET NOW spoke to Sandeep Barasia, Chief Business Officer and MD, to understand more about what the company expects with going public, what it plans to do with the fresh capital and what led to the decision of slashing the IPO price down from what was initially decided.

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