Delhivery IPO: Initial public offer subscribed 1.63 times on last day of subscription

Delhivery IPO was subscribed 1.63 times on the final day of subscription that ended on Friday.

New Delhi: The initial share sale of supply chain company Delhivery was subscribed 1.63 times on the final day of subscription which ended on Friday. According to the NSE data, the offer received bids for 10,17,04,080 shares against 6,25,41,023 shares on offer. 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. The public issue of Rs 5,235 crore had a fresh issue of up to Rs 4,000 crore and an offer for sale of up to Rs 1,235 crore.

The initial public offer had a price range of Rs 462-487 per share. On Tuesday, Delhivery raised Rs 2,347 crore from anchor investors. 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.

Delhivery provides a full range of logistics services, including express parcel delivery, heavy goods delivery and warehousing.

The equity shares of the supply chain company will list on BSE and NSE. Also Read: LIC IPO: Govt’s treasure chest richer by Rs 20,557 crore after diluting 3.5% stake with the mega-offer

Morgan Stanley India Company, Kotak Mahindra Capital Company, BofA Securities India and Citigroup Global Markets India were the managers to the offer. Also Read: DA Hike: Dearness allowance of Chandigarh administration employees hiked, check new rate