delhivery share price, bad days of Delhivery shares! Delhi stock hits lifetime low, down another 18 percent in early trade
Shares down 21% from IPO price
Shares of Delhiwari at its Rs. 487 is trading at 21% below its IPO issue price. The IPO of the supply chain company was listed on May 24, 2022. The issue was subscribed 1.63 times. Delhiwari had fixed an issue price of Rs 462-487 per share for its Rs 5,235 crore IPO. New shares worth up to Rs 4,000 crore were issued under the IPO. The IPO made the investors rich on the day of listing but now the investors are facing huge losses.
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to record highs in July
On July 21, 2022, shares of Delhivari hit a record high. At that time, it had touched a high of Rs 708.45, which means that the capital of IPO investors has increased by 45 per cent in the two months since the listing. In its July-September business update, the company said that due to rising inflation, people are consciously spending only on essentials. Apart from this, services were affected due to rain. Despite the festive season, spending per user and total active shoppers remained almost flat or down.
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Delhivery Express provides logistics services including parcel delivery, heavy cargo delivery and warehousing. Delhivari is India’s largest and fastest growing fully integrated logistics services company. Apart from its direct-to-consumer e-tailers, it has an e-commerce marketplace and more than 23 thousand customers across various small and large enterprises.
