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.

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

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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

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

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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.

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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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