Delhivery IPO subscribed 1.63x; Share Allotment, Listing Date, Delhi Lot IPO GMP Today
Delhivery IPO: Logistics firm Dehivery Limited’s initial public offering (IPO) saw a decent subscription rate on its closing day, while it got only 23 per cent subscription in the first two days of bidding. By the third day of bidding, Delhivery’s IPO witnessed 1.63x subscriptions against the offered shares, mainly due to an overwhelming response by Qualified Institutional Buyers (QIBs). However, all other categories were undersubscribed. The Delhivery IPO, which is the second largest for Dalal Street in calendar year 2022 (CY22) after LIC, is expected to raise Rs 5,235 crore from the first offering.
delhivery ipo subscription status
Till the last day of its opening on Friday, Delhivery IPO received a good response from the bidders who had bid for 10,17,04,080 shares against 6,25,41,023 shares for sale. The issue was booked 1.63 times on the third day mainly due to the bumper response from QIBs. Institutional buyers bid for 2.66 times the shares allotted to them, while non-institutional clients booked only 30 per cent of the shares reserved for them. Retail individual investors subscribed to 57 percent of the shares allotted to them.
Delhivery IPO GMP Today
Considering the muted response from most investors other than QIBs, even the unlisted shares of Delhivery IPO are not performing well in the gray market. As per market observers, Delhivery IPO GMP today is Rs. This means that at the upper end of the price band, Delhivery shares are expected to list at Rs 489. It is also in sync with the times when the market is volatile.
However, according to market experts, the GMP of the IPO is not a reliable source as it is an unregulated and unofficial data. Therefore, the GMP adherents are advised to look at the financial position of the company as well as the balance sheet of the company will give a better picture about the fundamentals of the company.
Delhivery IPO share allotment, listing date
The date of allotment of shares for the Delhi IPO is likely to be on May 19 i.e. next Thursday. For investors who do not win the bids, the refund will be credited on May 20, while the credit to the demat account will be done on May 23. The listing date for the Delhi IPO is tentatively May 24.
delhivery ipo details
The Delhivery IPO, which is valued at Rs 5,325 crore at the upper end of the band, is the second highest IPO of the year after LIC’s IPO. This includes a fresh issue of Rs 4,000 crore and an offer for sale of Rs 1,235 crore.
Delhivery plans to use the money raised from its initial public offering for organic growth initiatives. It will allocate funds for inorganic development through acquisitions and strategic initiatives and for general corporate purposes. The price band of Delhivery IPO was Rs 462-487 per share.
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