Resurfacing a May 2022 Moment: Delhivery IPO's Slow Start—Only 4% Subscribed, Retail Portion 23% Covered in Two Hours
Back in May 2022, SoftBank- and Tiger Global-backed logistics unicorn's INR 5,235 Cr IPO (INR 4,000 Cr fresh issue + INR 1,235 Cr OFS) at INR 462-487/share drew tepid early demand. Issue closed May 13, 2022; Delhivery had posted INR 890.4 Cr net loss on INR 3,806.32 Cr revenue.
Delhivery's IPO saw 4% total subscription and 23% retail coverage within two hours of opening; logistics unicorn's issue closes May 13, 2022, backed by SoftBank, Tiger Global.