New Delhi: The initial public offer (IPO) of supply chain company Delhivery was subscribed 1.63 times on the final day of subscription that ended May 13, with all eyes now set upon the listing day, which might take place on Tuesday (May 24).
Delhivery provides a full range of logistics services, including express parcel delivery, heavy goods delivery and warehousing.
Delhivery IPO subscription status
According to the NSE data, the offer received bids for 10,17,04,080 shares against 6,25,41,023 shares on offer, on the last day of subscription. Qualified institutional buyers portion attracted 2.66 times subscription, while the category for retail individual investors was subscribed 57 per cent and that for non institutional investors 30 per cent.
Delhivery IPO GMP today, listing status
The initial public offer had a price range of Rs 462-487 per share. Delhivery shares may witness a weak debut at stock markets given the high volatility in the markets, believe experts. Grey market observers also pegged the shares of Delhivery at a discount of Rs 5. This leads experts to opine that Delhivery shares would list at around Rs 482 (Rs 487 – Rs 5).
Delhivery IPO details
The company’s Rs 5,235-crore public issue comprises a fresh issue of up to Rs 4,000 crore and an offer for sale of up to Rs 1,235 crore. Under the OFS, investors Carlyle Group and SoftBank as well as Delhivery’s co-founders will divest their shareholding in the logistics company. Morgan Stanley India Company, Kotak Mahindra Capital Company, BofA Securities India and Citigroup Global Markets India are the managers to the offer. 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.