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Shares of Delhivery and Venus Pipes and Tubes will be listed at the bourses today. Supply chain major Delhivery has fixed the IPO price as ₹487, at the upper end of the price band ₹462-487. Venus Pipes fixed the IPO price at ₹326. It had fixed the price band for the IPO at ₹310-326.
Delhivery subscribed 1.63x
Overall, the IPO of Delhivery was subscribed 1.63 times with Qualified Institutional Buyer portion getting 2.66 times. The portions for non-institutional bidders (0.30 times) and retail investors (0.57 times) were under-subscribed.
The public issue of ₹5,235 crore had a fresh issue of up to ₹4,000 crore and an offer for sale of up to ₹1,235 crore.
For organic, inorganic growth
Proceeds of the fresh issue will be used towards funding organic growth initiatives, inorganic growth through acquisitions and other strategic initiatives and for general corporate purposes, it said in DRHP.
Delhivery, which provides a full range of logistics services, including express parcel delivery, heavy goods delivery and warehousing, raised.
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Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI.Ahead of the IPO, the logistics major has garnered ₹2,346 crore from 64 anchor investors, who included Goldman Sachs, Morgan Stanley, the Government of Singapore, Fidelity Investment Trust, Tiger Global, Invesco, SBI, ICICI Prudential, and HDFC.
Robust response for Venus Pipes
Venus Pipes & Tubes saw strong response from all categories of investors for its ₹165-crore IPO. While retail investors portion was subscribed by 19 times, quota for QIBs and NIIs saw a response of 12 times and 15.7 times respectively.
Venus Pipes & Tubes Limited is a manufacturer and exporter of stainless steel pipes and tubes. Venus Pipes & Tubes Limited has one manufacturing plant which is located at Bhuj-Bhachau highway, Dhaneti (Kutch, Gujarat) with an installed capacity of 10,800 MT per annum.
For working capital
The funds raised will be used to meet long-term working capital requirements, general corporate purposes and financing project costs for capacity growth, technology upgrades, operational cost optimisation, manufacturing facility support, and backward integration for hollow pipe manufacturing.
Ahead of the IPO opening, Venus Pipes had raised ₹49.62 crore from anchor investors such as Nippon India Small Cap Fund, Kotak Mahindra Life Insurance Company Ltd and India SME Investments - Fund I.
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