The initial public offering (IPO) of new-age logistics company Delhivery will open for subscriptions on May 11 and finish on May 13. Due to adverse market conditions, the Delhivery board approved the request to go public last week, according to ET. The business is expected to lower the issue size to Rs 5, 300 crores from Rs 7,460 crore it had planned before.
SoftBank, Carlyle, Tiger Global, and others are among the investors in the Gurgaon-based business. SoftBank and Carlyle are expected to lower their offer for sale (OFS) parts as part of the reduced offering size, according to ET on Tuesday afternoon.
The subscription period for the IPO begins one day after the LIC’s share sale window closes.
In November of last year, Delhivery filed for an initial public offering with the Securities and Exchange Board of India. Due to unstable market conditions, Delhivery had to postpone the debut of the deal, which had been scheduled for March.
