Delhivery IPO gets fully subscribed amid last minute dash from MFs, FIIs

Delhivery’s Rs 5,235 crore was subscribed fully on the final day of bidding on Friday amid a last minute dash from foreign institutional investors and domestic mutual funds, data from exchanges showed.

Delhivery’s Rs 5,235 crore IPO was subscribed fully on the final day of bidding on Friday amid a last minute dash from foreign institutional investors and domestic mutual funds, data from exchanges showed. As of data available till 2 pm. The portion set aside for qualified institutional buyers (QIBs) was subscribed 2.2 times, garnering bids for 74 million shares against 33 million on the offer.

However, demand from retail investors and employees remained subdued even on the third day of bidding. The portion set aside for retail investors was subscribed only 50%. While employee quota got bids of 20% till 2 pm on Friday.

The recent decline in the stock prices of new-age tech companies has dampened the sentiment. Among individual investors for expensively valued tech companies. Further, negative cash flows of Delhivery also impacted the investor sentiment, said experts.

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