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Integrated logistics provider <keyword id="11931339" type="General" weightage="20" keywordseo="delhivery" source="Orion">Delhivery</keyword> on Friday saw 2.51 per cent of its shares worth Rs 747 crore exchanging hands in a block deal, with Japanese investment giant <keyword id="163404" type="General" weightage="20" keywordseo="softbank" source="Orion">SoftBank</keyword> as likely seller. Around 1.8 crore shares of Delhivery changed hands at Rs 403 per share. Moneycontrol was on Thursday first to report about Softbank's move to sell some of its stake in the logistics firm in a block deal valued at $150 million. Before the block sale, SoftBank, via its subsidiary Svf Doorbell (Cayman), had a 14.6 per cent stake in the logistics firm. The Delhivery stock was hovering around Rs 402.5 in early trade. Over the past few months, Softbank has divested its stake in <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword> and Policybazaar's parent company PB Fintech. Logistics services provider Delhivery's net loss in the September quarter (Q3) of the current financial year was more than halved to Rs 103 crore, while revenue increased by 8 per cent to Rs 1,942 crore, despite higher inflation and fund crunch. The company reported a loss of Rs 254 crore and revenue of Rs 1,796 crore in the same quarter of the previous year. Last month, nearly 9.28 crore equity shares of online food delivery platform Zomato worth Rs 1,040 crore were offloaded in a bulk deal, likely by SoftBank. SoftBank, via its affiliate SVF Growth (Singapore) Pte, likely sold 1.09 per cent stake in Zomato in the bulk deal. Shares exchanged hands at an average price of Rs 111.20. SoftBank held a 2.17 per cent stake in Zomato (by September 2023 quarter).

SoftBank likely sold 2.5% stake worth Rs 747 cr in Delhivery

<ul><li>Japanese investment giant <keyword id="163404" type="General" weightage="20" keywordseo="softbank" source="Orion">SoftBank</keyword> has offloaded a 3.8% stake in logistics provider <keyword id="11931339" type="General" weightage="20" keywordseo="delhivery" source="Orion">Delhivery</keyword> in a block deal worth ₹954 crore on Wednesday. </li><li>Shares of Delhivery were trading 2% lower in morning trade on Thursday. </li><li>SoftBank remains the single largest shareholder in the company with a holding of 14.62%. </li></ul>Shares of logistics provider Delhivery were down 2% in morning trade on Thursday, a day after Japanese investment giant SoftBank offloaded a 3.8% stake in the company – paring its holding to 14.62%. On Wednesday, Delhivery’s shares had gained a little over 1%. According to data from the Bombay Stock Exchange (BSE), SoftBank sold shares worth ₹954 crore in a bulk deal at ₹340 apiece. The Japanese fund led by Masayoshi Son had invested $380 million (approx. ₹3,100 crore) in Delhivery. Prior to Delhivery going public in May 2022, SoftBank held a 22% stake in the company. At the end of December 2022, its stake was down to 18.42%. With a 14.62% stake, SoftBank continues to remain the largest shareholder in Delhivery. Delhivery debuted on the stock exchanges in May 2022 with muted gains – the stock opened at ₹495, marginally above the issue price of ₹487. Since then, Delhivery’s shares have fallen over 30% from the listing price. In 2023 so far, the stock has edged up nearly 3%. <div type="image" title="Delhivery share price 25_05_22 to 02_03_23." msid="98354676" hostid="261" sizebytes="20506" caption="&amp;lt;p&amp;gt;Delhivery share price since listing in 2022&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="SoftBank’s recent stake sales in new-age Indian startups" comment="subhead" text="SoftBank’s recent stake sales in new-age Indian startups">SoftBank’s recent stake sales in new-age Indian startups</cmsannotation> SoftBank has pared its holdings in multiple new-age Indian startups in the recent past. In November 2022, it offloaded a 4.5% stake in One97 Communications (Paytm) via the open market for ₹1,631 crore. In December, the Son-led investment giant halved its stake to 5.08% in Policybazaar-parent PB Fintech, mopping up ₹1,043 crore in the process. The fund is also<a href="https://economictimes.indiatimes.com/tech/technology/softbank-ant-discuss-paytm-secondary-sale/articleshow/98255877.cms"> reportedly</a> planning a secondary sale of shares in Paytm. However, Paytm denied those reports in an exchange filing, saying, “The company is not part of any negotiation/ events as mentioned in the news report.” SoftBank had reported a net loss of $5.9 billion for the December quarter. It lost around $5.5 billion in its signature Vision Funds alone in the October-December period, “reflecting declines in the share prices of a wide range of portfolio companies.” In the previous quarter, the fund reported a $10 billion loss. (With inputs from IANS) SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/axis-bank-completes-acquisition-of-citibanks-consumer-business-heres-everything-to-know/articleshow/98337170.cms">Axis Bank completes acquisition of Citibank’s consumer business for ₹11,603 crore – here’s everything to know</a> <a href="https://www.businessinsider.in/india/news/moodys-upgrades-indias-2023-gdp-growth-estimates-to-5-5-on-account-of-resilient-economy-higher-capex-allocation/articleshow/98326620.cms">Moody’s upgrades India’s 2023 GDP growth estimates to 5.5% on account of resilient economy, higher capex allocation</a> <a href="https://www.businessinsider.in/business/corporates/news/gap-between-tcs-infosys-and-other-smaller-indian-it-companies-to-increase-in-fy24/articleshow/98308333.cms">Gap between IT sector’s leaders and laggards to widen further in FY24, says Kotak Institutional Equities</a>

Delhivery shares edge lower after SoftBank offloads 3.8% stake for ₹954 crore

LIC, Delhivery, Kfin Tech among IPO duds of FY23

<ul><li>Logistics and supply chain company <keyword id="11931339" type="General" weightage="20" keywordseo="delhivery" source="Orion">Delhivery</keyword> is all set to go for an IPO next week in order to raise ₹5,235 crore.</li><li>The company had initially planned to raise ₹7,460 crore, but decided to reduce the issue size by a third.</li><li>The company now plans to raise ₹4,000 crore through fresh issue and ₹1,235 crore as an offer for sale (OfS).</li></ul>Logistics and supply chain company Delhivery is all set to go for an initial public offering (IPO) next week to raise ₹5,235 crore. The company had initially planned to raise ₹7,460 crore, but decided to reduce the issue size by a third. The cut in the pub<keyword id="6367143" type="General" weightage="20" keywordseo="lic" source="Orion">lic</keyword> issue comes amid volatile equity market conditions and the ongoing Life Insurance Corporation (LIC) IPO, which is the biggest public issue in the country. Delhivery, in its press conference held on May 5, noted that existing shareholders in the company believed the valuation was attractive and wanted to be a part of the company for a bit longer. Meanwhile, the company realized that it only needed ₹4,000 crore in order to fund its acquisitions and expansion plans. However, experts believe there was no other way around this. Yash Gupta, equity research analyst at AngelOne, told Business Insider that Delhivery and its shareholders made the right call as the ongoing ₹21,000 crore <keyword id="7922409" type="General" weightage="20" keywordseo="lic-ipo" source="Orion">LIC IPO</keyword> would eat into the liquidity of the investors. Besides, it would also increase the cash reserve ratio (CRR) required by the Reserve Bank of India (RBI), the central bank of India. “It will be difficult to predict the scenarios [if Delhivery went ahead with ₹7,460 crore IPO] but as the IPO size increases we have seen that it becomes difficult for the companies to get subscriptions and liquidity in the market will be more after listing. So we believe that it is a good decision by the company to decrease the overall issue size,” Gupta added. The company now plans to raise ₹4,000 crore through fresh issue and ₹1,235 crore as an offer for sale (OFS). The capital raised in a fresh issue is directly raised by the company, whereas the amount raised by offer for sale (OFS) goes to the shareholders selling their shares in the company. In this case, the OFS would go to Carlyle, Japanese Softbank, Fosun group-owned China Momentum Fund and Times Internet. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Initial Target </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Final Offer </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fresh Issue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,000 crore ($655 million) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,000 crore ($525 million) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Offer for Sale </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,460 crore ($322.5 million) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,235 crore ($162 million) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7,460 crore ($977 million) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,235 crore ($686 million) </td></tr></tbody><tbody></tbody><tbody></tbody></table> Kotak Mahindra Capital’s whole-time director V Jayasankar, on behalf of Delhivery, noted that the persistent volatility in global financial markets has made the current market situation challenging, but Delhivery’s IPO will sail through as it has been “attractively priced”. “There have been only three tech IPOs and the fact that Delhivery is growing and doing a very large solid million dollar transaction is a testimony to the quality of the company that’s been built. You will very shortly see on the tenth of May when the anchor investor book closes,” he said. “The breadth and the depth of participation both from foreign institutional investors as well as domestic institutional investors And that is to put into context what is the market environment or ecosystem that we see,” Jayasankar explained further. Kotak Mahindra Capital, Morgan Stanley India, Bofa Securities India, and Citigroup Global Markets are managing the share sale. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/tech/enterprise/news/cognizants-latest-earnings-have-a-silver-lining-for-indian-it-majors-tcs-infosys-and-wipro/articleshow/91334290.cms">Cognizant’s latest earnings have a silver lining for Indian IT majors TCS, Infosys and Wipro</a> <a href="https://www.businessinsider.in/stock-market/news/lic-ipo-sees-poor-demand-due-weak-market-conditions-and-rbis-sudden-rate-hike-say-analysts/articleshow/91338105.cms">LIC IPO sees poor demand due weak market conditions and RBI’s sudden rate hike, say analysts</a> <a href="https://www.businessinsider.in/stock-market/news/lic-ipo-was-subscribed-by-45-investors-under-30-says-paytm-money/slidelist/91338395.cms" data-type="tilCustomLink">LIC IPO Day 1 — one out of every third applicant was a new investor, reveals Paytm Money</a>

Delhivery IPO size cut down by a third due to market volatility and LIC IPO, say analysts

Thirty-seven Indian corporates raised Rs 52,116 crore through main board IPOs in the financial year 2022-23, less than half of the Rs 1.11 lakh (all-time high) mobilised by 53 IPOs in 2021-22, according to Primedatabase, the country's premier database on the primary capital market. According to <keyword id="1862725" type="General" weightage="50" keywordseo="pranav-haldea" source="Orion">Pranav Haldea</keyword>, Managing Director, Prime Database Group, as many as 25 out of the 37 <keyword id="6354763" type="General" weightage="100" keywordseo="ipo" source="Orion">IPO</keyword>s came in just three months of the year (May, November and December), which shows the volatile conditions prevalent through most of the year which are not conducive for IPO activity. In fact, the fourth quarter of 2022-23 has seen the lowest amount being raised in the last nine years. <keyword id="3517398" type="General" weightage="50" keywordseo="haldea" source="Orion">Haldea</keyword> said Rs 20,557 crore or a huge 39 per cent of the amount raised in 2022-23 was by LIC alone, without which the IPO fundraising would have been just Rs 31,559 crore. To be sure though, the amount raised in 2022-23 is still the third highest ever in terms of IPO fundraising. The largest IPO in 2022-23, which was also the largest Indian IPO ever, was from Life Insurance Corp of India. This was followed by <keyword id="11931339" type="General" weightage="50" keywordseo="delhivery" source="Orion">Delhivery</keyword> (Rs 5,235 crore) and Global Health (Rs 2,206 crore). The average deal size was a high Rs 1,409 crore. Only 2 out of the 37 IPOs (Delhivery &amp; Tracxn) were from a new age technology company (NATC) (in comparison to 5 NATC IPOs raising Rs 41,733 crore in 2021-22) pointing towards the slowdown in IPOs from this sector. The overall response from the public was moderate. Of the 36 IPOs for which data is available presently, 11 IPOs received a mega response of more than 10 times (of which 2 IPOs more than 50 times) while 7 IPOs were oversubscribed by more than 3 times. The balance of 18 IPOs was oversubscribed between 1 to 3 times. In comparison to 2021-22, the response of retail investors also moderated. The average number of applications from retail dropped to just 5.64 lakh, in comparison to 13.32 lakh in 2021-22 and 12.73 lakh in 2020-21. The highest number of applications from retail were received by LIC (32.76 lakhs) followed by <keyword id="6813155" type="General" weightage="50" keywordseo="harsha-engineers" source="Orion">Harsha Engineers</keyword> (23.86 lakhs) and Campus Activewear (17.27 lakhs), Prime Database said. The number of shares applied for by retail by value (Rs 41,671 crore) was 20 per cent lower than the total IPO mobilisation (in comparison to being 17 per cent higher in 2021-22) showing the lower level of enthusiasm from retail during the period. According to Haldea, IPO response was further muted by moderate listing performance. Average listing gain (based on the closing price on the listing date) fell to 9.74 per cent, in comparison to 32.59 per cent in 2021-22 and 35.68 per cent in 2020-21. Of the 36 IPOs which have got listed thus far, 16 gave a return of over 10 per cent. DCX Systems gave a stupendous return of 49 per cent followed by Harsha Engineers (47 per cent) and Electronics Mart (43 per cent). Twenty-one of the 36 IPOs are trading above the issue price (closing price of March 24, 2023). SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/centre-gives-full-basic-customs-duty-exemption-on-import-of-drugs-for-rare-diseases/articleshow/99110374.cms">Centre gives full basic customs duty exemption on import of drugs for rare diseases</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/us-visa-rules-ease-now-h-1b-visa-holders-spouses-can-work-in-the-us/articleshow/99110481.cms">US visa rules ease: Now H-1B visa holders' spouses can work in the US</a>

IPO fundraising hit a 9-year low in Q4 of FY23: Prime Database

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> shrugged off early weakness to gain in the first hour of trading on Wednesday.</li><li>While all the sectoral indices were in the green, metals, banks and auto indices gained the most.</li></ul>India’s benchmark indices Sensex and Nifty50 shrugged off early weakness to gain in the first hour of trading on Wednesday. While all the sectoral indices were in the green, metals, banks and auto indices gained the most. Both the benchmark indices were up 0.64% in the first hour of trading on Wednesday – while Sensex gained 375 points and stood at 59,337, Nifty50 gained 110 points to edge up to 17,414. The overall sentiment on the Nifty50 index was also largely positive, with 41 stocks advanced and only 9 stocks declining. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.49% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.54% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.88% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid Corporation </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.42% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.84% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.44% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.22% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life Insurance </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.42% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.11% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.35% </td></tr></tbody><tbody></tbody><tbody></tbody></table> Source: NSE, March 1, 2023 Earlier on Tuesday, both Sensex and Nifty50 fell to cap off a volatile February month that saw see-saw movements. While Sensex fell 1.25% in February, Nifty50 declined 1.77%. Both the indices are down 3.61% and 4.91% in 2023 so far, respectively. Bharti <keyword id="15491" type="General" weightage="20" keywordseo="airtel" source="Orion">Airtel</keyword>: The telecom operator has crossed 10 million unique 5G users since it rolled out the network in October 2022. The company says its 5G services are present across all states and is well poised to cover every town and key rural areas by the end of March 2024. State Bank of India: The lender on Tuesday raised $1 billion via a syndicated social loan from global banks for further lending to certain kinds of socially impactful businesses in India. Reportedly, the funds will be used to further lend to microfinance institutions and self help groups. <keyword id="11931339" type="General" weightage="20" keywordseo="delhivery" source="Orion">Delhivery</keyword>: Softbank Group may sell its stake worth ₹600 crore in the logistics and supply chain company via a block deal on March 1, says <a href="https://economictimes.indiatimes.com/markets/stocks/news/softbank-plans-to-sell-rs-600-cr-stake-in-delhivery-via-block-deals-tomorrow-report/articleshow/98309496.cms">reports</a>. The shares are likely to be offered at 3-5% discount to the current market price. <keyword id="118623" type="General" weightage="20" keywordseo="adani-enterprises" source="Orion">Adani Enterprises</keyword>: The company said that its arm Mundra Aluminium has been declared as the preferred bidder for the Kutrumali bauxite block by the Odisha government. The Kutrumali bauxite block has geological reserves of 128 million tonnes. Divgi TorqTransfer Systems: The Pune based auto component company will open its IPO from today March 1 and will conclude on March 3. The company is looking to raise a fresh issue of ₹180 crore along with an offer for sale (OFS) of up to 39.34 lakh equity shares to be sold by promoters and shareholders. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/gap-between-tcs-infosys-and-other-smaller-indian-it-companies-to-increase-in-fy24/articleshow/98308333.cms">Gap between IT sector’s leaders and laggards to widen further in FY24, says Kotak Institutional Equities</a> <a href="https://www.businessinsider.in/business/telecom/news/airtels-growth-to-be-driven-by-postpaid-subscribers-and-5g-powered-premiumisation/articleshow/98296576.cms">Airtel’s ARPU improvements to be driven by postpaid subscribers and 5G-powered premiumisation</a> <a href="https://www.businessinsider.in/business/corporates/news/stock-price-run-up-in-paytm-nykaa-zomato-pb-fintech-delhivery-could-see-large-shareholders-cashing-out-bofa/articleshow/98274102.cms">Stock price run up in Paytm, Nykaa, Zomato, PB Fintech &amp; Delhivery could see large shareholders cashing out - BofA</a>

Sensex, Nifty50 shrug off weakness led by gains in metals, banks and auto stocks

<ul><li>Shares of <keyword id="11931339" type="General" weightage="20" keywordseo="delhivery" source="Orion">Delhivery</keyword> listed at ₹493 while the price band was fixed at ₹462 - ₹487 per share.</li><li>The IPO witnessed tepid demand from investors as its IPO was subscribed for 1.63 times the number of shares offered.</li><li>The market capitalisation of the company stood at ₹35,718 crore.</li></ul>The Indian equity markets added another stock to the list of new age technology stocks — logistics startup company Delhivery — among others like Zomato, Paytm, Nykaa. Delhivery’s shares listed at ₹493, higher by just 1.23%, while the price band was fixed at ₹462 - ₹487 per share. Shares of the Gurugram-based logistics and supply chain company Delhivery made a tepid listing mainly due to weak market sentiment and poor financials of the company. The IPO had struggled too as only 24% of the issue was subscribed in the first two days of subscription. The lack of demand was due to volatile market conditions that spooked investors. On the last day, the issue was subscribed 163% mainly because of oversubscription in the qualified institutional buyer category. A tepid listing of Delhivery was much expected by analysts The unofficial grey market indicated a negative listing for the stock as they were being traded at ₹10 discount to issue price of ₹487. Investors too stayed away from the IPO as Delhivery is a loss-making <a href="https://www.businessinsider.in/stock-market/news/delhivery-delivers-parcels-to-over-90-of-india-but-will-its-ipo-deliver-profits-to-its-investors-heres-what-analysts-are-saying/articleshow/91470992.cms">company</a>. Not to forget, investors were already once bitten after <a href="https://www.businessinsider.in/stock-market/news/zomato-policybazaar-nykaa-and-paytm-shares-witness-sharp-corrections/articleshow/91365062.cms">new age companies like Paytm, Zomato</a>, whose shares have sunk massively after listing. “Looking at expensive valuation and some correction in the market in the last two weeks expect a soft listing of <keyword id="6661978" type="General" weightage="20" keywordseo="delhivery-ipo" source="Orion">Delhivery IPO</keyword>,” said Yash Gupta, equity research analyst at Angel One. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/foreign-investors-have-pulled-out-more-money-this-year-than-they-brought-in-between-2009-2021/articleshow/91747269.cms">Foreign investors have pulled out more money this year than they brought in between 2009-2021</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/paradeep-phosphates-ipo-how-to-check-allotment-status/articleshow/91745969.cms">Paradeep Phosphates IPO — how to check allotment status</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/aether-industries-limited-ipo-open-today-check-out-other-important-dates/articleshow/91745866.cms">Aether Industries Limited IPO open today — check out other important dates</a>

Delhivery makes a tepid debut on exchanges as it rises 1% on listing day

<ul><li>Logistics startup <keyword id="11931339" type="General" weightage="100" keywordseo="delhivery" source="Orion">Delhivery</keyword> is opening its IPO from tomorrow May 11 with a price band of ₹462 to ₹487 per share.</li><li>The company has reduced issue size to ₹5,235 crore from ₹7,460 crore it had decided earlier because of volatile market conditions, and the ₹21,000 crore LIC IPO which could suck out the liquidity from the market.</li><li>Analysts think that the <keyword id="6661978" type="General" weightage="20" keywordseo="delhivery-ipo" source="Orion">Delhivery IPO</keyword> is on the expensive side and hence recommend investors to avoid it.</li></ul>Logistics and supply chain company Delhivery is all set to launch its ₹5,235 crore initial public offering (IPO) tomorrow from May 11 to May 13. The company has reduced issue size to ₹5,235 crore from ₹7,460 crore it had decided earlier because of <a href="https://www.businessinsider.in/stock-market/news/delhivery-ipo-size-cut-down-by-a-third-due-to-market-volatility-and-lic-ipo-say-analysts/articleshow/91348072.cms">volatile market conditions</a> and the <a href="https://www.businessinsider.in/stock-market/news/lic-issue-opens-today-check-out-the-important-dates-and-details-of-the-ipo/articleshow/91295617.cms">₹21,000 crore LIC IPO </a>which could suck out the liquidity from the market. Delhivery’s public issue, which aims at mopping up INR 5,235 crore from the market, includes ₹4,000 crore worth fresh equity shares and ₹1,235 crore via sale of shares by existing investors via the offer for sale (OFS) route. Shareholders like Carlyle, Japanese Softbank, Fosun group-owned China Momentum Fund and Times Internet will sell some of their shares in the IPO. 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. Delhivery is raising funds to fuel its future growth The company has proposed to use the net proceeds from the IPO to fund its acquisitions and expansion plans, with an eye on future growth. In August 2021, Delhivery had acquired Spoton to scale their PTL freight services business. The company’s express parcel delivery network services 17,500 pincodes, covering 90.6% of the total 19,300 pincodes in India. The size of the company's active customers have grown four times in the last three financial years along with good growth in pincode reach and delivery points. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pincode reach </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16,677 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15,875 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13,485 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infrastructure (in million square feet) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.85 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.96 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of delivery points </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,382 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,973 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,258 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Team size </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">53,086 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40,416 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28,830 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of active customers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16,741 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,957 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4,867 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Delhivery DRHP What are the analysts saying – should you subscribe to the Delhivery IPO or not? However, despite meaningful growth in its service offerings and revenue, Delhivery is still incurring losses. This is one of the reasons some analysts have recommended investors to skip the IPO. Analysts at BP Equities suggest investors avoid the IPO, saying that it is similar to <a href="https://www.businessinsider.in/stock-market/news/zomato-policybazaar-nykaa-and-paytm-shares-witness-sharp-corrections/articleshow/91365062.cms">new age firms like Zomato, PayTM </a>which have disappointed investors and wiped out a considerable portion of their investments. At the upper end of the price band, the issue is aggressively priced, says a report by BP Equities. “Despite an improvement in the topline, the company continues to make losses. As we are witnessing the negative market sentiment towards the similar category stocks (Zomato, PayTM), we suggest investors to “Avoid” this issue,” added the report. It is worth mentioning that although the company is still not profitable, its losses have reduced by four times in FY 2021-22 when compared to FY 2019-20. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,838 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹415 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,988 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹268 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,694 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹1,783 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Delhivery DRHP Despite appreciating the company’s revenue growth, analysts at Angel One aren’t bullish, yet. “In the Indian markets, no other peer group has the same business model as Delhivery. It has reported good revenue growth of 82% in nine months of FY2022 and it is expected that company may turn EBITDA positive by FY2022 end. Given the expensive valuation, we are assigning a NEUTRAL recommendation to the Delhivery IPO,” said a report by brokerage Angel One. Seconding the views, analysts at Choice Broking have assigned “Subscribe with Caution” rating for the issue considering the company’s loss making operations. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/top-10-loss-making-startups-in-india-in-2021-from-oyo-to-phonepe-and-paytm-heres-the-list/slidelist/91469854.cms">Top 10 loss making startups in India in 2021 – from Oyo to PhonePe and Paytm, here’s the list</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/heres-why-adani-and-jsw-group-are-racing-to-acquire-ambuja-cements-and-acc-from-holcim/articleshow/91465197.cms">Here's why Adani and JSW Group are racing to acquire Ambuja Cements and ACC from Holcim</a>

Delhivery delivers parcels to over 90% of India, but will its IPO deliver returns to its investors? Here’s what the analysts are saying

<ul><li>Logistics startup is likely to announce its share allotment status today.</li><li>The issue has been subscribed 1.63 times in the three days of subscription.</li><li>The IPO will be listed on May 24 on exchanges.</li></ul>Gurugram-based logistics and supply chain company <keyword id="11931339" type="General" weightage="20" keywordseo="delhivery" source="Orion">Delhivery</keyword> is likely to announce the allotment status of its initial public offering (IPO) today, May 19. The IPO was open for subscription from May 11 to May 13. The company received bids for ₹25.49 crore as against ₹2.05 crore worth of shares on offer. In the first two days of subscription, the company struggled to get demand as only 24% of the issue was subscribed. The lack of demand was due to volatile market conditions that have spooked investors. Later, on the last day, the issue was subscribed 163% mainly because of oversubscription in the qualified institutional buyer category. Investors stayed away from the IPO because of the fact that Delhivery is a loss-making<a href="https://www.businessinsider.in/stock-market/news/delhivery-delivers-parcels-to-over-90-of-india-but-will-its-ipo-deliver-profits-to-its-investors-heres-what-analysts-are-saying/articleshow/91470992.cms"> firm</a>. Not to forget, investors have already been bitten after investing in <a href="https://www.businessinsider.in/stock-market/news/zomato-policybazaar-nykaa-and-paytm-shares-witness-sharp-corrections/articleshow/91365062.cms">new age companies like Paytm, Zomato</a>, whose shares have sunk down massively after listing. Moreover, the grey market indicates a negative listing for the stock as the stocks are being traded at ₹5 discount to issue price of ₹487 in the unofficial market. The portion reserved for retail investors was also not fully subscribed as it got only 57% of the bids against the shares on offer. Here is how to <keyword id="13960144" type="General" weightage="20" keywordseo="delhivery-ipo-allotment-status" source="Orion">Delhivery IPO allotment status</keyword> on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website <a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp">here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select ‘Delhivery’.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘Delhivery’.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/after-unacademy-vedantu-has-laid-off-600-people/articleshow/91643403.cms">Vedantu follows Unacademy’s footsteps — fires over 600 people in May</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-vs-bharti-airtel-four-charts-to-showcase-how-indian-telecom-giants-faired-in-2022/slidelist/91640306.cms">Reliance Jio vs Bharti Airtel — four charts that showcase how the Indian telecom giants faired in 2022</a>

Delhivery IPO: Here’s how you can check the allotment status

<ul><li>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.</li><li>In the first two days, the IPO has been subscribed only 24% by investors.</li><li>The grey market premium of LIC IPO has come down sharply to a discount of ₹2 from ₹30 a few weeks back.</li></ul>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. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription status </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified institutional buyers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.30 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.02 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.42 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overall </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.24 times </td></tr></tbody></table>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 <a href="https://www.businessinsider.in/stock-market/news/delhivery-delivers-parcels-to-over-90-of-india-but-will-its-ipo-deliver-profits-to-its-investors-heres-what-analysts-are-saying/articleshow/91470992.cms">loss making firm</a>. Not to forget, investors have already been bitten after investing in <a href="https://www.businessinsider.in/stock-market/news/zomato-policybazaar-nykaa-and-paytm-shares-witness-sharp-corrections/articleshow/91365062.cms">new age companies like Paytm, Zomato</a>, whose shares have sinked down massively after listing. <div type="image" title="Delhivery profit" height="900" width="1200" msid="91526795" hostid="261"></div>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. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/venus-pipes-and-tubes-ipo-heres-all-you-need-to-know-about-before-applying/slidelist/91517368.cms">Venus Pipes and Tubes — here’s all you need to know about before applying for its IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/lic-ipo-check-out-analysts-view-on-whether-to-sell-or-hold-lic-ipo-post-listing/articleshow/91515679.cms">LIC IPO might list at a discounted price; Here’s analysts view on whether to sell or hold LIC ipo post listing</a>

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

<ul><li>In an interview with Business Insider, <keyword id="1560090" type="PERSON" weightage="20" keywordseo="Delhivery">Delhivery</keyword>’s chief technology officer and co-founder Kapil Bharati shared how the company leveraged technology to make sense of the disruption in logistics last year.</li><li>Just two-three days after the lockdown was announced in March last year, Delhivery was up and running in 4,500 pincodes and after 10 days, they were operational in 15,000 pincodes in India.</li><li>Delhivery has recently opened two new tech offices or data centres and is also hiring aggressively.</li></ul>It’s been over a year since the COVID-19 pandemic began ravaging India and disrupted the normal movement across the country, as restrictions and lockdowns took over. In this situation, one of the sectors to come forward in times of need was the logistics and supply chain industry. And leading from the front is Delhivery, which may soon get listed publicly. In an interview with Business Insider, Delhivery’s chief technology officer (CTO) and co-founder Kapil Bharati shared how the company leveraged technology to make sense of the disruption in logistics and also cut down on costs at the same time. Lockdown logistics “We started a bit early, in the beginning of March 2020, and started putting in various interventions in place for COVID-19. So by the time the lockdown actually happened, we had systems in place and the operational processes in place,” said Bharati. Just two-three days after the lockdown was announced in March last year, Delhivery was up and running in 4,500 pincodes and after 10 days, they were operational in 15,000 pincodes in India. They also used technology to quickly differentiate between essential and non-essential products to ensure seamless delivery. Kshitij Chopra, co-head, products and strategy at Delhivery explained how they went about it. “We modified the algorithms to identify the government regulations on what classifies as essential and what is non essential. That not only helped us move shipments or deliveries in the network, but also helped our business development teams to proactively reach out to clients who were shipping the same categories of goods saying ‘hey, you can actually continue shipping,’ because there was so much confusion on ground,” he said. The second problem was identifying where they can ship, since the containment zones didn’t allow deliveries. “We had people on ground, where we were able to quickly coordinate with local authorities. As and when the definition of essential was changing, we were also upgrading our backend systems,” said Bharati. And also, this is helping the SoftBank-backed logistics unicorn, which has been cutting down on its losses even before the pandemic. As per reports, in FY20, Delhivery’s net loss stood at ₹284.13 crore from ₹1,781.04 crore reported in FY19. They also doubled down on fast moving consumer goods (FMCG) and pharmaceutical clients. It was only after two-three months that the demand from e-commerce portals doubled. “After 10 months, we saw the volumes coming back to pre-COVID levels, and pretty much the entire network was up and running,” said Bharati. Using data for delivery For Delhivery, the physical infrastructure is just one part of the operations – innovating on their technology and data science capabilities is another. “We use a bunch of artificial intelligence (AI) and machine learning (ML) optimisation tools to answer questions like the best route, time etc., for delivery. This helps us get to a higher quality of service at a lower cost,” said Chopra. Delhivery also has a proprietary system, which does geocoding and helps connect last mile riders with end consignees in an efficient way. “Location intelligence is one big area for us, where we continue to develop our capabilities and keep on integrating it back into our system so we can drive more and more automation and system direction. The second is customer intelligence and the third aspect is product intelligence,” said Bharati. Hiring and tech expansions Delhivery’s focus remains in expanding its tech capabilities. The startup had also recently acqui-hired retail tech platform Primaseller in March 2021. And tech leaders of the company said that this acquisition also helped them in getting the right talent into the company. “We continue to look for such companies, startups especially, who are working in the space adjacent to us or in the data, AI/ML side of things. We constantly look for such potential partners that we can partner with or even a possible acquisition,” said Bharati. Delhivery has recently opened two new offices or data centers and is also hiring aggressively. “We are doubling down on our campus hiring this year,” he said. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/after-ditching-bitcoin-elon-musk-is-now-working-on-making-dogecoin-efficient/articleshow/82628521.cms">After ditching Bitcoin, Elon Musk is now working on making Dogecoin efficient</a> <a href="https://www.businessinsider.in/cryptocurrency/news/four-reasons-why-cryptocurrency-ethereum-has-been-on-a-bull-run/articleshow/82606761.cms">Four reasons why cryptocurrency Ethereum has been on a bull run</a> <a href="https://www.businessinsider.in/science/health/news/covid-19-a-couple-from-chennai-has-come-up-with-this-innovation-of-a-surgical-mask-vending-machine-/articleshow/82605058.cms">Even small initiatives during a pandemic can help save a thousand lives, these people are doing their bit</a>

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