Delhivery, Venus Pipes Lists Close To IPO Issue Price; Venus Pipes Gains Momentum

Delhivery IPO listed today at a price close to its IPO issue price. The company on the BSE settled at Rs. 495 per share on the NSE. The company's issue price had been Rs. 487 per share. The company is the leading and fastest growing logistics provider in the country.

During the subscription period, the IPO saw weak response from investors. The maiden offer by the company to aggregate Rs. 5235 crore was subscribed 1.63 times. The quota reserved for qualified institutional buyers (QIBs) was subscribed 2.66 times. The portion set aside for non-institutional investors (NIIs), retailers and eligible employees was subscribed 30 per cent, 57 per cent and 27 per cent, respectively.

Similarly, Venus Pipes with an issue price of Rs. 326 settled at a price of Rs. 337.5 per share on the NSE. Nevertheless, the stock with the progress of the market had been seen momentum. The stock was seen gaining over 8.7%.

Venus Pipes & Tubes IPO opened from subscription from May 11-13. The Gujarat-based manufacturer and exporter aimed to garner Rs 165.42 crore from its public offer. The price band has been set at Rs 310-326 per share. Venus Pipes IPO comprises sale of 50.74 lakh fresh equity shares of the company. There is no offer for sale (OFS) component.