Delhivery stock lists at 1.7% premium ends 10% at end of day

Shares of new-age logistics firm Delhivery got listed on BSE and the NSE on Tuesday scrip started trading on BSE at Rs 493 per share, up 1.2% from its IPO price of Rs 487 per share.

On the final day of subscription, May 13, the Delhivery IPO was subscribed 1.63 times. On the last day of subscription

utilise Rs 2,000 crore from issue proceeds to fund organic growth initiatives such as building scale in existing business lines, developing new adjacent business lines

Further, it will utilise around Rs 1,000 crore for funding inorganic growth opportunities through acquisitions and other strategic initiatives

According to the company, it clocked revenue from operations of Rs 5,170 crore, or close to $700 million, in the nine months of FY22 ending in December 2021.

Barua cofounded Delhivery, along with Mohit Tandon, Bhavesh Manglani, Suraj Saharan and Kapil Bharati, had said optimising for short-term notional valuation gains

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