Supply chain company Delhivery's initial public offering got subscribed 21 per cent on the first day of subscription on Wednesday. The ₹5,235-crore IPO of Delhivery closes on Friday. The issue comes at a price band of ₹462-487 a share. Investors can bid for a minimum of 30 equity shares and in multiples thereof.

Meanwhile, the IPO received bids for 1,32,64,410 shares against 6,25,41,023 shares on offer.

So far lukewarm response

While Retail individual investors portion was subscribed 30 per cent, Qualified Institutional Buyers (QIBs) received 29 per cent and non-institutional investors just one per cent.

While the logistics major will raise ₹4,000 crore through the fresh issue, the balance (₹1,235 crore) will be on offer for sale from existing shareholders such as Carlyle Group and SoftBank.

Anchor investors

On Tuesday, Delhivery raised ₹2,347 crore from 64 anchor investors. Among the marquee investors included Tiger Global, Bay Capital, Steadview, Fidelity, Baillie Gifford, Schroders, Aberdeen Standard Life, SBI Mutual Fund, HDFC MF, ICICI MF, etc.

Proceeds of the fresh issue will be used towards funding organic growth initiatives, funding inorganic growth through acquisitions and other strategic initiatives and for general corporate purposes.

Delhivery provides a full range of logistics services, including express parcel delivery, heavy goods delivery and warehousing.

Book running lead managers to Delhivery IPO are Kotak Mahindra Capital Company, Morgan Stanley India Company Private Limited, BofA Securities India Limited, and Citigroup Global Markets India Private Limited. The registrar to the issue is Link Intime India Private Limited.

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