Delhivery, an Indian logistics startup backed by SoftBank Group, was listed on the exchanges on Tuesday at a premium of 1.68 percent over the bid price of Rs 487.
Shares of the supply chain company opened at Rs 495.20 on the NSE index. On BSE, the stock started trading at Rs 493.
Shares of Delhivery continue their upward trend after the positive reading. The stock hit an intraday high of Rs 543.95, rising a whopping 11.69 percent.
The public offering had a new share issue worth Rs 4,000 crore and an offer for sale (OFS) of up to Rs 1,235 crore.
Under the OFS, investors Carlyle Group, SoftBank and the co-founders of Delhivery will divest their shares in the logistics company.
Currently, SoftBank owns a 22.78 percent stake, Carlyle a 7.42 percent stake, Bharti 1.11 percent, Tondon 1.88 percent and Saharan a 1.79 percent stake in the company.
The IPO (IPO) was open for registration between 11 May and 13 May.
Delhivery offers a range of logistics services and operates a pan-Indian network. It provides services in 17,045 zip codes (PIN codes).
The company provides supply chain solutions to a diverse base of 23,113 active customers such as e-commerce marketplaces, direct-to-consumer e-tailers and enterprises and SMBs across industries such as FMCG, consumer durables, consumer electronics, lifestyle, retail, automotive and production.