Delhivery IPO: Logistics firm Dehivery Limited’s initial public offering (IPO) saw a decent subscription rate on its closing day, while it got only 23 per cent subscription in the first two days of bidding. As of day 3 of bidding, delhivery ipo The offer witnessed 1.63x subscriptions against the shares on offer, mainly due to the overwhelming response by Qualified Institutional Buyers (QIBs). Share allotment for Rs 5,235 crore delhivery ipo It has been done two days in advance, and the investors who won the bid are likely to get credit in their demat accounts by Monday, May 23.
delhivery IPO gmp today
According to gray market experts, delhivery ipo gmp (Grey market premium) today minus Rs 5, unchanged from yesterday’s gray market premium. Market observers said Delhivery IPO GMP today is minus Rs 5, which means gray market is expecting Delhivery IPO listing to be around Rs 482 (Rs 487 – Rs 5), which is about 1 per cent lower than the upper end . Delhi price of Rs 487 per equity share
However, according to market experts, the GMP of the IPO is not a reliable source as it is an unregulated and unofficial data. Therefore, the GMP adherents are advised to look at the financial position of the company as well as the balance sheet of the company will give a better picture about the fundamentals of the company.
What Experts Say on Delhi’s IPO Listing Benefits
Market analysts said the issue could get listed at a discount on NSE and BSE, given the high valuations of the Delhi IPO and adverse market conditions.
“Delhivari IPO received less encouraging response from investors. However, the issue ended with the support of QIB Investors subscription. The company has posted strong revenue growth but losses have also increased in a similar manner, which has made investors wary. Expensive valuations and unfavorable market conditions can weaken the listing. The IPO may get listed around the issue price and if the market conditions worsen, we may see a further discount listing.
Delhivery IPO Financials
According to its share-sales prospectus, Delhivery has never reported a profit. The company reported a loss of Rs 891.14 crore for the nine months ended December 2021 and a loss of Rs 415.7 crore in FY21. The revenue in the nine months ended December was Rs 4,911 crore and in FY15 was Rs 3,838 crore. It reported negative free cash flow of Rs 246 crore in FY2011, up from Rs 848 crore in FY10. Freight, handling and servicing costs rose to Rs 3,480 crore in the first nine months of FY12 from Rs 2,026 crore in FY11.
Delhivery IPO opened on 11th May and closed on 13th May. The Delhivery IPO is expected to be listed on the stock exchanges on Monday, May 24. The public issue will be listed on both NSE and BSE.
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