Delhivery IPO
Delhivery Limited (DELHIVERY) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 24 May 2022.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -3.2% (likely range -16% to +21%), day's high +10.0%, chance of a gain 33%. Actual: +1.7% at the open, +16.8% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 3,38,63,662 | 9,00,49,140 | 2.66x | |
| NII (HNI) total | 1,69,31,818 | 50,94,090 | 0.30x | |
| Retail | 1,12,87,878 | 64,36,980 | 0.57x | |
| Employees | 4,57,665 | 1,23,870 | 0.27x | |
| Total | 6,25,41,023 | 10,17,04,080 | 1.63x |
Bids on NSE and BSE together, as published by NSE, as of 13 May 2022, 05:00 PM. Shares offered exclude the anchor portion. 6% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Delhivery's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Hindustan AeronauticsMar 2018 | 1.73x | 0.03x | 0.39x | 0.99x | ₹7,191 Cr | -5.2% | -2.5% |
| Sona BLW Precision ForgingsJun 2021 | 3.46x | 0.39x | 1.57x | 2.28x | ₹5,667 Cr | +3.4% | +24.1% |
| General Insurance Corporation Of IndiaOct 2017 | 2.25x | 0.22x | 0.63x | 1.38x | ₹19,892 Cr | -6.8% | -1.4% |
| Aavas FinanciersSep 2018 | 2.77x | 0.26x | 0.25x | 0.97x | ₹1,734 Cr | -8.7% | -4.1% |
| The New India Assurance CompanyNov 2017 | 2.34x | 0.12x | 0.11x | 1.19x | ₹16,584 Cr | -6.2% | -6.2% |
| Macrotech DevelopersApr 2021 | 3.05x | 1.44x | 0.40x | 1.36x | ₹2,516 Cr | -10.3% | -1.6% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Morgan Stanley India Company | 24 | +13.9% | 67% |
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| BofA Securities India | 18 | +30.6% | 72% |
| Citigroup Global Markets India | 35 | +14.2% | 63% |
Offer documents (NSE)
Frequently asked
What is the Delhivery IPO price band and lot size? ₹462–487 per share, with a lot of 30 shares, so the smallest retail bid is ₹14,610.
How many times has it been subscribed? 1.63x overall: QIB 2.66x, NII 0.30x, retail 0.57x, employees 0.27x.
How did it list? It opened at ₹495, +1.7% against the issue price of ₹487, and closed its first day +10.1%.
