16 May , 2022 By : Kanchan Joshi
The initial share sale of supply chain company Delhivery was subscribed 1.63 times on the final day of subscription that 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.
The finalization of basis of share allotment of Delhivery IPO is expected to take place this week on Thursday, May 19, 2022 and if allotted, then the credit of shares to demat account of bidders will be done on May 23. The registrar for this IPO is Link Intime India Private Ltd, therefore the allotment application can be checked on its website here or on the BSE website here.
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 Rs5,235 crore had a fresh issue of up to Rs4,000 crore and an offer for sale (OFS) of up to Rs1,235 crore. The initial public offer (IPO) had a price range of Rs462-487 per share. The company's shares are expected to list on stock exchanges BSE and NSE on Tuesday, May 24, 2022. Delhivery raised Rs2,347 crore from anchor investors.
Proceeds of fresh issue to the tune of Rs2,000 crore will be used towards funding organic growth initiatives and Rs1,000 crore for inorganic growth through acquisitions and other strategic initiatives, besides, money will be used for general corporate purposes.
Delhivery provides a full range of logistics services, including express parcel delivery, heavy goods delivery and warehousing.
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