HomeBusinessDelhivery Rs 5235 crore IPO opens up for subscription

Delhivery Rs 5235 crore IPO opens up for subscription

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The initial public offering (IPO), worth Rs 5,235 Crore, by Delhivery Logistics Services was open for subscription on Wednesday.
The IPO of Gurugram-based company will be open for public subscription until Friday, May 13, 2022. The price range has been set at Rs 462-487 per Share with a face worth of Re 1.
The company will raise Rs 4,00,000 crore from the total Rs 5,235crore IPO proceeds. This will be done through the issuance of equity shares of a face value Re 1, each. The offer for sale route is the best way to raise the remaining Rs 1,235 crore. Existing shareholders and promoters will sell their stakes.

The total issue size is 75 percent reserved for qualified institutional buyers (QIB), 15% for non-institutional investor (NII), and 10 percent for retail investors.
Within just a few hours, 21 percent of the retail subscription had been opened.
The company raised Rs 2,346.7 million from 64 investors, including Baillie Gifford Pacific Fund and Schorder International.

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