Delhivery IPO subscribed 23%; Venus Pipes sees 4.4 times subscription | Business Standard News

2022-05-19 09:43:42 By : Ms. Sunny Zhang

Topics Delhivery | IPO

BS Reporter  Last Updated at May 12, 2022 23:42 IST

Logistics major Delhivery’s IPO was subscribed 23 per cent, while that of Venus Pipes & Tubes was subscribed 4.4 times on Thursday.

Both the IPOs close on Friday. Delhivery’s IPO size is Rs 5,235 crore, second-biggest after LIC this year. The company has already raised Rs 2,346 crore from anchor investors.

Delhivery is looking to raise Rs 4,000 crore of fresh capital through the IPO and the remaining Rs 1,235 crore is an offer for sale (OFS).

“At the upper band of its IPO price of Rs 487, Delhivery is valued at 2.4 times FY24 EV/Sales. This in our opinion is an attractive valuation when compared with peers Bluedart (3.1X FY24 EV/Sales) and TCI Express (4.1X FY24 EV/Sales),” broking firm Ventura has said in a note. Meanwhile, Venus Pipes is looking to raise Rs 165 crore in fresh capital through the IPO.

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