The initial public offering of Delhivery, a Gurugram-based supply-chain solutions provider, got off to a slow start.
The company is seeking to raise up to Rs 5,235 crore from the IPO, according to its red herring prospectus. It comprises a fresh issue of shares worth Rs 4,000 crore and an offer-for-sale of Rs 1,235 crore.
Selling shareholders in the IPO include funds owned by the Carlyle Group, Softbank, Times Internet Ltd. and China Momentum Fund. Co-Founders Suraj Saharan, Kapil Bharati and Mohit Tandon are also offloading shares.
The company, according to the IPO prospectus, plans to use the proceeds from the fresh issue to fund development of existing delivery lines, acquisitions and general corporate purposes.
Also Read: Delhivery IPO: All You Need To Know
Subscription Details: Day 1
The IPO subscribed 0.21 times or 21% as of 5 p.m. on May 11.
Institutional investors: 0.29 times.
Non-institutional investors: 0.01 times.
Retail investors: 0.3 times.
Employees: 0.06 times.
(Source: BSE)
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