Delhivery IPO's Slow Start Resurfaces: Just 4% Subscribed on Day 1, Retail Portion 23%
Resurfacing a May 2022 development: the Gurugram-based logistics unicorn's INR 5,235 Cr IPO—backed by Times Internet, Fosun, Nexus Venture Partners and others—saw tepid opening-day demand at the INR 462-487 price band, despite a INR 1,485 Cr anchor round and FY21 revenue of INR 3,647.7 Cr against a INR 890.3 Cr net loss.
Delhivery's IPO saw tepid Day 1 demand—4% total subscription, 23% retail coverage—as the logistics unicorn seeks INR 5,235 Cr, ahead of its major India ecommerce-linked stock market debut.