Delhivery lists with mild premium, surges sharply later

by IANS |

New Delhi, May 24 (IANS) Shares of logistics company Delhivery made it's debut on the exchanges with a mild premium over its issue price.

Delhivery is India's leading supply chain services company in the domestic and international space.

The scrip listed on BSE at Rs 493 per share, up 1.2 per cent from its issue price of Rs 487, whereas on NSE at Rs 495, up nearly 2 per cent.

Later, at the time of writing this report, the scrip, however, traded 9 per cent higher at Rs 530.

The company's issue was subscribed 1.63 times, and it received total bids for 10,17,04,080 shares as against 6,25,41,023 shares on offer, data showed.

Qualified institutional buyers' portion saw 2.66 times subscription, while the category for retail individual investors was subscribed 57 per cent and that for non institutional investors 30 per cent, data showed.

Proceeds from the issue will fund the company's organic and inorganic growth initiatives via acquisitions and other strategies.

The price band for the issue was fixed at Rs 462-487.

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