Delhivery IPO's Slow Start Resurfaces: Just 4% Subscribed, Retail Portion at 23% in First Two Hours (May 2022)
Resurfacing a May 2022 move, logistics unicorn's INR 5,235 Cr IPO had opened tepid as overall bids hit only 4% subscription; retail investors covered 23% of their quota while valuation was marked down to $4.63 Bn from $6.5 Bn, with anchor backers BlackRock, Fidelity and Singapore's sovereign fund already in at INR 1,485 Cr.
Delhivery's IPO saw 4% overall subscription in first two hours, with retail portion covered 23%; logistics unicorn's valuation marked down to $4.63 Bn from $6.5 Bn.