India's Delhivery completes $674m IPO
Indian e-commerce logistics provider Delhivery raised INR 52.4bn (USD 674m) in a domestic IPO but was unable to sustain first-day price gains with the stock sliding towards the offering price by May 26.
The company sold 107.5m shares for INR 486 apiece, according to a prospectus. It had set out to raise as much as INR 74.6bn, but the new and existing share tranches were both scaled back – from INR 50bn...
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