Date: August 8, 2022 | |
BSE Limited | National Stock Exchange of India Limited |
Floor 25, P J Towers, | Exchange Plaza, C-1, Block G, |
Dalal Street, | Bandra Kurla Complex, |
Mumbai - 400 001 | Bandra (E), Mumbai - 400 051 |
India | India |
Scrip Code: 543529 | Symbol: DELHIVERY |
Sub: Monitoring Agency Report for the quarter ended June 30, 2022
Dear Sir/ Madam,
Pursuant to Regulation 32(6) of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 41(4) of Securities Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find attached Monitoring Agency Report for the quarter ended June 30, 2022, issued by Axis Bank Limited, Monitoring Agency, appointed to monitor the utilisation of proceeds of the Public Issue (IPO) of the Company. The above report has been placed before and considered by the Audit Committee in its meeting held on August 8, 2022.
This disclosure will also be hosted on the Company's website viz. www.delhivery.com
You are requested to take the same on your record.
Thanking you,
Yours faithfully,
For Delhivery Limited
SUNIL
KUMAR BANSAL
Digitally signed by SUNIL KUMAR BANSAL Date: 2022.08.08 23:24:15 +05'30'
Sunil Kumar Bansal
Company Secretary & Compliance Officer Membership No: F4810
Place: Gurugram
Encl: As above
AXB/CO/IFB-TS/2022-23/69
August 05,2022
To,
Delhivery Limited
Corporate Office,
Plot 05, Sector 44,
Gurugram - 122002, Haryana,
India
Dear Sir,
Sub: Delhivery Limited (the Company) - Monitoring Agency Report
We write in our capacity of Monitoring Agent to the Company and refer to our duties cast under Regulation 41(2) of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2018.
In terms of above, please find attached the Monitoring Report for the quarter ended on June 30, 2022 as per Schedule XI of the aforesaid SEBI Regulations.
Request you to kindly take the same on records.
Thanking you.
Yours Faithfully,
For and on behalf of Axis Bank Ltd
RAKSHI TA V SHETTY
Digitally signed by RAKSHITA V SHETTY
Date: 2022.08.05 16:42:41 +05'30'
Authorized Signatory
Corporate Office :
Axis Bank Limited, 'Axis House', C-2, Wadia International Centre, Pandurang Budhkar marg, Worli, Mumbai - 400 025.
www.axisbank.com
Report of the Monitoring Agency
Name of the Issuer: Delhivery Limited
For quarter ended: 30th June 2022
Name of the Monitoring Agency: Axis Bank Limited
(a) Deviation from the objects: No Deviation
- Utilization different from Objects stated in the offer document but in line with change of objects approved by shareholders' resolution; or
- Utilization neither in line with Objects stated in the offer document nor approved by shareholders' resolution
- In case of no deviation, the fact would be stated.
(b) Range of Deviation*: Not Applicable
Indicate range of percentage deviation from the amount of issue proceeds earmarked for objects. For example, up to 10%, 10 - 25%, 25-50%,50-75%,75-100%, not ascertainable etc.
- Range of Deviation may be computed by taking weighted average of financial deviation of each object in the ratio of issue proceeds allocated for it. Non-financial deviation may be indicated separately by way of notes.
Declaration:
We hereby declare that this report is based on the format as prescribed by Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended. We further declare that this report provides true and fair view of the utilization of issue proceeds.
We declare that we do not have any direct / indirect interest in or relationship with the issuer/promoters/directors/management and also confirm that we do not perceive any conflict of interest in such relationship / interest while monitoring and reporting the utilization of issue proceeds by the issuer.
We also declare that the certificate is provided on the basis of management representation and certification provided by the Independent Chartered Accountant
For and on behalf of Axis Bank
RAKSHI TA V SHETTY
Digitally signed by RAKSHITA V SHETTY
Date: 2022.08.05 16:43:19 +05'30'
Authorised Signatory
Corporate Office :
Axis Bank Limited, 'Axis House', C-2, Wadia International Centre, Pandurang Budhkar marg, Worli, Mumbai - 400 025.
www.axisbank.com
- Issuer Details: Name of the issuer: Delhivery Limited The names of the promoters of the issuer: N.A.
Industry/sector to which it belongs: Logistics Solution Provider
- Issuer Details: Name of the issuer: Delhivery Limited The names of the promoters of the issuer: N.A.
- Issue Details:
Issue Period : May 11, 2022 to May 13, 2022
Type of issue : Initial Public Offer (IPO)
Type of specified securities: Equity Shares
Issue size : Rs. 52350 (In Million)
3) Details of the arrangement made to ensure the monitoring of issue proceeds:
(Give item by item description for all the objects, as well as for the sub-heads(if any)) given under objects, stated in the offer document separately in following format))
Particulars | Reply | Source of | Comments | Comments | |||
information | of | of Board of | |||||
/certifications | Monitoring | Directors | |||||
considered | Agency | ||||||
by | |||||||
Monitoring | |||||||
Agency for | |||||||
preparation | |||||||
of report" | |||||||
Whether all the utilization is as per | Yes/No | Certificate | Yes | Yes | |||
disclosure in Offer Document? | provided | by | |||||
the chartered | |||||||
Accountant | |||||||
Whether | Shareholder approval | is | Yes/No | Not | Not | ||
obtained in case of material deviations# | Applicable | Applicable | |||||
from expenditures disclosed in Offer | |||||||
Document? | |||||||
Whether means of finance for disclosed | Yes/No | Certificate | No | Not | |||
objects of the Issue has changed? | provided | by | Applicable | ||||
the chartered | |||||||
Accountant | |||||||
Any major deviation observed over the | Yes/No | - | Not | Not | |||
earlier monitoring agency reports? | Applicable | Applicable | |||||
Whether all Government / Statutory | Yes/No | - | Not | Not | |||
approvals related to the object(s) | Applicable | Applicable | |||||
obtained? | |||||||
Whether all arrangements pertaining to | Yes/No | - | Not | Not | |||
technical | assistance/collaboration | in | Applicable | Applicable | |||
operation? | |||||||
Any favorable events improving object(s) | Yes/No | - | Not | Not | |||
viability | Applicable | Applicable | |||||
Any unfavorable events affecting | Yes/No | - | Not | Not | |||
object(s) viability | Applicable | Applicable | |||||
Any other relevant information that may | Yes/No | Not | Not | ||||
materially affect the decision making of | Applicable | Applicable | |||||
the investors |
# Where material deviation may be defined to mean:
- Deviation in the objects or purposes for which the funds have been raised
- Deviation in the amount of fund actually utilized by more than 10% of the amount projected in the offer documents.
Corporate Office :
Axis Bank Limited, 'Axis House', C-2, Wadia International Centre, Pandurang
Budhkar marg, Worli, Mumbai - 400 025.
www.axisbank.com
4) Details of object(s)s to be monitored:
- Cost of object(s):
(Give item by item description for all the objects, as well as for the sub-heads(if any)) given under objects, stated in the offer document separately in following format)
(Rs. in Millions) | ||||||||||||||||
Sl. | Item Head | Original | Revise | Source of | Comment | Comments of Board of Directors | ||||||||||
No | Cost | (as | d Cost | information | s | of | ||||||||||
per | Offer | / | Monitorin | |||||||||||||
Documen | certificatio | g Agency | ||||||||||||||
t) | ns | |||||||||||||||
considered | ||||||||||||||||
by | ||||||||||||||||
Monitoring | ||||||||||||||||
Agency for | ||||||||||||||||
preparation | ||||||||||||||||
of | ||||||||||||||||
report | ||||||||||||||||
Reaso | Propose | Particulars | ||||||||||||||
n of | d | of | firm | |||||||||||||
cost | financin | arrangemen | ||||||||||||||
revisio | g option | ts made | ||||||||||||||
n | ||||||||||||||||
1 | Organic | |||||||||||||||
Growth | ||||||||||||||||
Initaitive | ||||||||||||||||
(i) | Building | 1600 | NA | NA | NA | NA | NA | NA | ||||||||
scale | in | |||||||||||||||
existing | ||||||||||||||||
business | ||||||||||||||||
lines | and | |||||||||||||||
developing | ||||||||||||||||
new | ||||||||||||||||
adjacent | ||||||||||||||||
business | ||||||||||||||||
lines | ||||||||||||||||
(ii) | Expending | 13600 | NA | NA | NA | NA | NA | NA | ||||||||
our network | ||||||||||||||||
infrastructu | ||||||||||||||||
re | ||||||||||||||||
(iii | Upgrading | 4800 | NA | NA | NA | NA | NA | NA | ||||||||
) | and | |||||||||||||||
improving | ||||||||||||||||
our | ||||||||||||||||
proprietary | ||||||||||||||||
logistics | ||||||||||||||||
operating | ||||||||||||||||
system | ||||||||||||||||
2 | Funding | 10000 | NA | NA | NA | NA | NA | NA | ||||||||
inorganic | ||||||||||||||||
growth | ||||||||||||||||
through | ||||||||||||||||
acquisition | ||||||||||||||||
and | other | |||||||||||||||
strategic | ||||||||||||||||
Initiatives | ||||||||||||||||
Corporate Office : | ||||||||||||||||
Axis Bank Limited, 'Axis House', C-2, Wadia International Centre, Pandurang | ||||||||||||||||
Budhkar marg, Worli, Mumbai - 400 025. | ||||||||||||||||
www.axisbank.com | ||||||||||||||||
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Delhivery Ltd. published this content on 08 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 August 2022 19:54:01 UTC.