Delhivery IPO: Date, price, GMP, size and everything you need to know

Indian supply chain startup Delhivery is set to launch its Initial Public Offering (IPO) on May 11 and investors will have a chance to subscribe till May 13. Founded in May 2011, Delhivery has grown to become India's largest logistics provider and is now heading toward its stock market debut with an aim to raise Rs 5,235 crore.

So far, the company has the support of American delivery giant, FedEx Express, which invested $100 million in the startup in July 2021. Delhivery became a unicorn in 2019 when a funding round led by SoftBank Vision Fund granted it $400 million.

Delhivery IPO, price band and GMP

As mentioned above, the Gurugram-based firm Delhivery aims to raise Rs 5,235 crore and the company has set the price band of its shares between Rs 462 and Rs 487. Notably, Delhivery's employees will get a discount of Rs 25 per equity share whereas investors will be able to bid for a minimum of 30 equity shares. Besides, the company's shares are available at a grey market premium (GMP) rate of Rs 16, as per market experts. 

Notably, the size of Delhivery's IPO has been reduced from Rs 7,460 crore to Rs 5,235 crore. Out of the total, Rs 4,000 crore comprises the freshly issued equity shares and Rs 1,235 crore is the Offer for Sale (OFS) component by existing shareholders.

Delhivery IPO date

As mentioned above, Delhivery's shares will open for subscription on May 11 and investors can subscribe till May 13. According to Delhivery's objectives, the company is planning to double down on its organic growth initiatives and is aiming toward acquisitions and strategic initiatives by allocating more money for inorganic growth. 

Meanwhile, India's insurance behemoth LIC's subscription closes today after it went public on May 4. LIC had fixed the price band for its IPO at Rs 902-949 per share and the government intended to raise around Rs 21,000 crore by selling 22,13,74,920 shares to institutional and retail buyers.