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Delhivery IPO anaged to Gain Full Subscription

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14 May 2022
min read
TWN In-Focus

News Synopsis

The IPO of logistics service provider Delhivery managed to get a full subscription despite the tough market conditions. The issue was subscribed 1.12 times until 1:10, according to the data provided by BSE shows.

Delhivery has allotted Rs 2,346 crore worth of shares to 64 ancho investors at Rs 487 per share. Amansa, Goldman Sachs, Aberdeen, Tiger Global, Schroder, and Baillie Gifford were the anchor investors who received an allotment. Mutual funds were subscribed to 30% of the shares in the anchor book. 

The institutional part of this issue was subscribed almost twice. The other categories have not yet been fully subscribed. Delhivery's Rs 5,235-crore offer requires a subscription of at least 75% from institutional investors. The IPO has already exceeded this threshold.

At the top, Delhivery's market capitalization is Rs 35,284 crore on a diluted basis. The company aims to raise new capital of Rs 4,000 crore through this IPO. The remaining Rs 1,235 crore will be an offer for sale (OFS) to investors, including private equity firms Carlyle and Softbank.