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Delhivery stock makes flat market debut, lists at 1.68% premium to issue price

Delhivery stock makes flat market debut, lists at 1.68% premium to issue price

Delhivery offered its shares in a price band of Rs 462 to Rs 487. The stock listed at Rs 495.20 on NSE. Market cap of Delhivery stood at Rs 35,877 crore.

 On BSE, the stock listed at Rs 493, 1.23 per cent higher to the IPO price. Market cap of the firm stood at Rs 35,718 crore. On BSE, the stock listed at Rs 493, 1.23 per cent higher to the IPO price. Market cap of the firm stood at Rs 35,718 crore.

Shares of logistics services provider Delhivery listed at a premium of 1.68 per cent today against the IPO issue price. The company offered its shares in a price band of Rs 462 to Rs 487. The stock listed at Rs 495.20 on NSE. Market cap of Delhivery stood at Rs 35,877 crore. Total 3.68 lakh shares of the firm changed hands amounting to a turnover of Rs 18.24 crore on NSE.

On BSE, the stock listed at Rs 493, 1.23 per cent higher to the IPO price. Market cap of the firm stood at Rs 35,718 crore. Total 7,375 shares of the firm changed hands amounting to a turnover of Rs 36.35 lakh on BSE.

The company has raised Rs 5,235 crore from the IPO. The issue was subscribed 163 per cent on the third and final of the offer on May 13. The IPO opened on May 11.

The IPO received bids for 10,16,82,330 shares against 6,25,41,023 shares on offer, according to BSE data at 5:00 pm.

The portion reserved for retail individual investors (RIIs) received 0.57 times subscription while qualified institutional buyers' segment (QIBs) got 2.66 times subscription and non-institutional investors 0.30 times.

The company's public issue comprised a fresh issue of up to Rs 4,000 crore and an offer for sale (OFS) 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.

On May 10, Delhivery raised Rs 2,347 crore from anchor investors. Proceeds of the fresh issue were used towards funding organic growth initiatives, funding inorganic growth through acquisitions and other strategic initiatives and for general corporate purposes.

Delhivery is engaged in providing a full range of logistics services, including delivery of express parcel and heavy goods, PTL freight, TL freight, warehousing, supply chain solutions, cross-border Express, freight services, and supply chain software. Delhivery is the largest and fastest-growing fully integrated logistics services player in India by revenue as of FY21.