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Delhivery IPO - Listing Date, GMP & Subscription

Delhivery Ltd IPO listing date: May 24, 2022 on NSE, BSE. Listed at ₹493 (+1.2%) vs issue price of ₹487. Subscribed 1.63x overall (QIB: 5.54x). Price band: ₹462-₹487, lot size 30 shares.

sHQ

stoicHQ Research Team · Ex-quants, IIT Delhi · Updated May 23, 2022

Key Dates

IPO Open DateMay 11, 2022

IPO Close DateMay 13, 2022

Allotment DateMay 19, 2022

Refund DateMay 23, 2022

Demat Credit DateMay 23, 2022

Listing DateMay 24, 2022

Issue Details

Price Band₹462-₹487

Issue Price₹487

Face Value₹1

Lot Size30 shares

Min Investment₹14,610

Issue Size₹5,235 crore

Listing ExchangeNSE, BSE

RegistrarLink Intime India

IPO TypeMainboard

stoicHQ Analysis

✓Market leader in Indian logistics

✓Strong institutional backing

⚠Unprofitable at listing

⚠High valuation vs peers

⚠Weak retail and NII subscription

About Delhivery Ltd

Delhivery is India's largest fully-integrated logistics company by revenue, serving 18,500+ pin codes across the country.

Subscription Breakdown

Overall Subscription1.63x

QIB (Institutional)5.54x

NII (HNI)0.97x

Retail0.41x

Listing Price

₹493

Listing Gain

+1.2%

Issue Price

₹487

stoicHQ Analysis

Muted 1.2% listing gain despite being a high-profile IPO. Weak retail subscription (0.41x) signalled demand skepticism at the premium valuation given the company's path to profitability. QIB barely above 5x was a warning sign that institutions too were cautious.

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IPO Listing Timeline

Previous IPO← LIC IPO (listed May 17, 2022)Next IPODreamfolks Services IPO (listed Sep 6, 2022) →

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Delhivery IPO GMP - Historical Grey Market Premium

GMP is an unofficial market price. For educational purposes only.

DateGMP (₹)KostakImplied Gain

May 23, 2022+₹6-+1.2%

May 15, 2022+₹2₹40+0.4%

May 11, 2022+₹4₹80+0.8%

May 8, 2022+₹8₹150+1.6%

May 5, 2022+₹12₹200+2.5%

Delhivery IPO Subscription Status - Day Wise

DayOverallQIBNII (HNI)Retail

Day 1 (May 11)0.42x0.84x0.28x0.24x

Day 2 (May 12)0.84x2.12x0.52x0.36x

Day 3 (May 13)1.63x5.54x0.97x0.41x

Anchor Investors

Abu Dhabi Investment Authority₹260 crore

SBI Mutual Fund₹220 crore

HDFC Mutual Fund₹180 crore

Delhivery Ltd - Financials at IPO

YearRevenuePATNet Margin

FY20₹27,854 crore₹2,158 crore7.8%

FY21₹29,422 crore₹2,974 crore10.1%

FY22₹41,560 crore₹3,444 crore8.3%

Listed Peers - Logistics

Blue Dart ExpressLogistics

Mahindra LogisticsLogistics

Frequently Asked Questions

When did Delhivery IPO list?

Delhivery IPO listed on May 24, 2022 on NSE and BSE at ₹493, a modest 1.2% gain over the issue price of ₹487.

What was Delhivery IPO GMP?

The grey market premium (GMP) for Delhivery IPO was just ₹6 at listing, correctly predicting the muted 1.2% gain. GMP was weak throughout the subscription period.

What was Delhivery IPO subscription?

Delhivery IPO was subscribed 1.63x overall - weak. QIB was 5.54x, NII was 0.97x (under-subscribed), and retail was just 0.41x.

What does Delhivery do?

Delhivery is India's largest fully-integrated logistics company by revenue, serving 18,500+ pin codes across India for e-commerce, B2B freight, and supply chain management.

What is the Delhivery IPO allotment date?

The allotment date for Delhivery IPO was May 19, 2022. Listing was on May 24, 2022.