Logistics startup Delhivery’s bold move to proceed with its public offering when markets are approaching bear territory and there’s recession chatter seems to have worked. The issue was subscribed about 1.51X as of 3:15 pm on Friday, overcoming fears of a washout.
Institutional investors subscribed over two times, while high-net-worth individuals, corporates and retail investors were yet to meet their quota.
But even with a successful IPO, Delhivery must brace for a tough listing on the bourses because of the growing negative sentiment around India’s loss-making unicorns. For context, Zomato’s IPO was subscribed 38 times, PB Fintech’s 17 times and Paytm’s 1.89 times. The shares of all three are trading below their issue prices.
In addition, access 50+ archived articles and 3 new articles every month
Sign In
Got a tip? If you have a lead we should be chasing at The CapTable, write to us at tips@the-captable.com
Join our community of 100,000+ top executives, VCs, entrepreneurs, and brightest student minds
Blume Ventures
The CapTable brings a refreshing set of insights for us at the Blume team, highlighting stories that bring together the underlying business and founders with that of investors' journeys with these startups. It's an important perspective that very few bring to startup ecosystem enthusiasts.
Convinced that The Captable stories and insights
will give you the edge?
Convinced that The Captable stories
and insights will give you the edge?
Subscribe Now
Sign Up Now
