Delhivery IPO Subscribed 1.63 Times On Final Day
Follow the latest subscription updates from day 3 of Delhivery's IPO.
Delhivery Ltd., a Gurugram-based supply-chain solutions provider, saw its initial public offering fully subscribe on the final day, led by demand from institutional investors.
The issue was subscribed 21% and 23% at the end of first and second days, respectively. Barring QIBs, all other categories remained undersubscribed.
The company aimed at raising up to Rs 5,235 crore from the IPO, according to its red herring prospectus. It comprised a fresh issue of shares worth Rs 4,000 crore and an offer-for-sale of Rs 1,235 crore.
Selling shareholders in the IPO include funds owned by the Carlyle Group, Softbank, Times Internet Ltd. and China Momentum Fund. Co-Founders Suraj Saharan, Kapil Bharati and Mohit Tandon are also offloading shares.
The company, according to the IPO prospectus, plans to use the proceeds from the fresh issue to fund development of existing delivery lines, acquisitions and general corporate purposes.
Delhivery IPO: All You Need To Know
Subscription Details: Day 3
The IPO subscribed 1.63 times as of 5 p.m. on May 13.
Institutional investors: 2.66 times.
Non-institutional investors: 0.30 times.
Retail investors: 0.57 times.
Employees: 0.27 times.
(Source: BSE)