Delhivery IPO subscribed 21% on first day of offer

Delhivery IPO subscribed 21% on first day of offer

Supply chain company Delhivery’s initial share sale got subscribed 21 per cent on the first day of subscription on Wednesday.

The Initial Public Offer (IPO) received bids for 1,32,64,410 shares against 6,25,41,023 shares on offer, according to data available with the NSE.

The public issue of Rs 5,235 crore has 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.

Delhivery’s IPO has 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.

Morgan Stanley India Company, Kotak Mahindra Capital Company, BofA Securities India and Citigroup Global Markets are the managers to the offer.