Supply chain company Delhivery has filed preliminary papers with capital markets regulator Sebi to raise Rs 7,460 crore through an initial public offering (IPO).

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The IPO comprises fresh issuance of equity shares worth Rs 5,000 crore and an offer for sale (OFS) component of Rs 2,460 crore by existing shareholders, according to the draft red herring prospectus (DRHP).

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Under the OFS, investors Carlyle Group and SoftBank as well as Delhivery's co-founders will divest their shareholding in the logistics company.

CA Swift Investments, an entity of Carlyle Group, will sell shares to the tune of Rs 920 crore, SVF Doorbell (Cayman) Ltd, an arm of Softbank Group, will offload shares worth 750 crore, Deli CMF Pte Ltd, a wholly-owned subsidiary of private equity fund China Momentum Fund, L.P. Will sell shares worth Rs 400 crore and Times Internet will sell shares worth Rs 330 crore.

In addition, Delhivery's co-founders Kapil Bharati, Mohit Tandon and Suraj Saharan will sell shares worth Rs 14 crore, Rs 40 crore and Rs 6 crore, respectively.

At present, SoftBank owns a 22.78 per cent stake, Carlyle has a 7.42 per cent stake, and China Momentum Fund has a 1.11 per cent stake in the company.

Bharti owns 1.11 per cent, Tondon has 1.88 per cent, and Saharan holds a 1.79 per cent stake.

Proceeds of the fresh issue will be used towards funding organic growth initiatives, funding inorganic growth through acquisitions and other strategic initiatives, and for general corporate purposes.

The e-commerce logistics company operates a pan-India network and provides services in 17,045 postal index number (PIN) codes, as of June 30, 2021.

It provides supply chain solutions to a diverse base of 21,342 active customers such as e-commerce marketplaces, direct-to-consumer e-tailers and enterprises and SMEs across several verticals such as FMCG, consumer durables, consumer electronics, lifestyle, retail, automotive and manufacturing, as of June 30, 2021.

In the draft papers, the company said it will continue to incur losses in the near future. It has reported losses to the tune of Rs 1,783.30 crore, Rs 2,68.92 crore, Rs 415.74 crore and Rs 129.58 crore in fiscals 2019, 2020 and 2021, and the three months ended June 30, 2021, respectively.

"We have a history of losses and negative cash flows from operating, investing and financing activities, and we may continue to experience losses and negative cash flows in the future as we anticipate increased expenses in the future," the company said in the draft papers.

The Gurugram-based company said about five customers contributed to more than 40 per cent of its revenues in FY21.

The firm provides provide a full range of logistics services, including express parcel delivery, heavy goods delivery, warehousing, supply chain solutions, cross-border express and freight services and supply chain software, along with value-added services like e-commerce return services, payment collection and processing, installation and assembly services.

Kotak Mahindra Capital Company, BofA Securities India, Morgan Stanley India Company and Citigroup Global Markets India are the book running lead managers to the issue.

In May, Delhivery had announced that it has raised USD 275 million (about Rs 1,995 crore) in the primary funding round, led by Fidelity Management and Research Company. With this capital, Delhivery's valuation was expected to rise to over USD 3 billion.