Analysts predict that Delhivery will be included to the FTSE All-World Index by December

According to Brain Freitas, an analyst at Periscope Analytics, a market research business registered as a service provider on market research aggregation platform Smartkarma, IPO-bound Delhivery is projected to be included to the FTSE All-World Index by December this year and the MSCI India index by May 2023.

Freitas also stated that the stock will not be included to the BSE and NSE’s main Sensex and Nifty indexes any time soon.

The FTSE All-World Index measures the performance of big and mid-cap firms in established and emerging economies. The index is based on the FTSE Global Equity Index Series (GEIS), which includes approximately 7,400 stocks from 47 countries and represents 98 percent of the global market capitalization.

“If Delhivery is listed after mid-May, the earliest it may be included in the FTSE indexes is during the December quarterly index review (QIR), when data from November 11 will be used to construct the free float.” Delhivery will require a market size of $3.95 billion and an investable market cap of $463 million to be included in the FTSE All-World index, according to Brian.

Delhivery, on the other hand, will not fulfil the requirements for a fast-track inclusion into the FTSE and MSCI indexes. A firm must have a complete market valuation of $8.71 billion and a free-float market cap of $4.36 billion to qualify for fast-track admission into the MSCI index. Things are a little more difficult for FTSE because it has its own set of regulations.

ABOUT DELHIVERY 

Tandon, Sahil Barua, Bhavesh Manglani, Bharati, and Saharan created Delhivery in 2011. It offers a broad range of logistics services, including parcel delivery, full truckload (FTL) and less than truckload (LTL) freight, reverse logistics, cross-border, B2B and B2C warehousing, and end-to-end supply chain and technology services.
In September of last year, the business secured $125 million in a Series I fundraising round headed by VC firm Addition. In May 2021, it secured $275 million in a Series H investment round. To far, the company has raised $1.4 billion.

In November of last year, Delhivery submitted its Draft Red Herring Proposal (DRHP) to the market regulator Securities and Exchange Board of India (SEBI). The firm wanted to raise INR 7,640 via its IPO, which included a fresh issue of shares worth INR 5,000 Cr and an OFS of INR 2,460 Cr.