Last day to apply for Delhivery IPO; grey indicates a discounted listing

• Today is the last day to subscribe to Logistics startup Delhivery’s IPO that is looking to raise ₹5,235 crore through the public issue.
• In the first two days, the IPO has been subscribed only 24% by investors.
• The grey market premium of LIC IPO has come down sharply to a discount of ₹2 from ₹30 a few weeks back.

For those interested in applying for the initial public offering (IPO) of logistics and supply chain company Delhivery, today, May 13, is the last day.

The company is looking to raise 5,235 crore through the public issue wherein fresh issue is of ₹4,000 crore and offer for sale is of ₹1,235 crore. Shareholders like Carlyle, Japanese Softbank, Fosun group-owned China Momentum Fund and Times Internet will sell some of their shares in the IPO.

So far the company has been struggling as only 24% of the issue has been subscribed in two days. The lack of demand is due to volatile market conditions that have spooked investors.
In fact, due to the risky market conditions, the reduced issue size to ₹5,235 crore from ₹7,460 crore it had decided earlier.

Also, the grey market premium of LIC IPO has come down sharply to a discount of ₹2 from ₹30 a few weeks back.

Another thing keeping investors at bay is the fact that Delhivery is a loss making firm. Not to forget, investors have already been bitten after investing in new age companies like Paytm, Zomato, whose shares have sinked down massively after listing.

The company intends to use the IPO proceeds to fund its acquisitions and other expansion plans.

Delhivery provides a full range of logistics services, including express parcel delivery, heavy goods delivery, PTL freight, TL freight, warehousing, supply chain solutions, and cross-border services, among others.


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