Delhivery IPO: The initial public offering (IPO) of logistics firm Dehivery Limited saw a good subscription rate on its closing day, as opposed to the first two days of bidding where it was subscribed only 23 per cent. As of Day 3 of bidding, the Delhivery IPO saw a subscription of 1.63 times against the shares on offer, which was mainly due to a superb response by Qualified Institutional Buyers (QIB). However, all the other categories were undersubscribed. The Delhivery IPO, which is the second biggest for Dalal Street in calendar year 2022 (CY22) after LIC, expects to raise Rs 5,235 crore from the maiden offer.
Delhivery IPO Subscription Status
As of the last of its opening on Friday, the Delhivery IPO received a decent response from bidders who put up bids for 10,17,04,080 shares against 6,25,41,023 shares up on sale. The issue was booked 1.63 times on Day 3, mainly due to bumper response of the QIBs. Institutional buyers bid for 2.66 times the shares allotted for them, while non-institutional subscribers booked just 30 per cent of the portion reserved for them. Retail individual investors subscribed to 57 per cent of the shares allotted to them.
Delhivery IPO GMP Today
The unlisted shares of Delhivery IPO are also not doing well at the grey market given the muted response from most investors other than QIBs. The Delhivery IPO GMP today is Rs 2, as per market observers. This means that at the upper end of the price band, the Delhivery shares are expected to list at Rs 489. This is also in sync with the time when markets are volatile.
However, as per market experts, GMP of an IPO is not a reliable source as it is an unregulated and unofficial data. So, those who follow GMP are advised to go through the financials of the company as well because balance sheet of the company will give better picture about the company’s fundamentals.
Delhivery IPO Share Allotment, Listing Date
The share allotment date for Delhivery IPO is likely to be done on May 19, which is next Thursday. For those investors who do not win bids, refund will be credited on May 20 while credits to demat account will be done on May 23. The Listing date of Delhivery IPO is tentatively May 24.
Delhivery IPO Details
The Delhivery IPO, valued at Rs 5,325 crore at the upper end of the price band, is the second biggest IPO this year after the LIC IPO. It comprises of a fresh issue of Rs 4,000 crore, and Offer for Sale of Rs 1,235 crore.
Delhivery plans to utilise the funds raised from its initial public offering for organic growth initiatives. It will also allocate money for inorganic growth through acquisitions and strategic initiatives and for general corporate purposes. The Delhivery IPO had a price band of Rs 462-487 per share.