Delhivery share price: Sock falls to all-time low as 6-month IPO lock-in ends

Delhivery share price: The Gurugram-based company launched its initial public offer (IPO) on May 11. It made its market debut on May 24 and listed with a nearly 2 per cent premium against its issue price of Rs 487.

Check Delhivery share price. Pic: PTI

Delhivery share price: Shares of logistics and supply chain company Delhivery on Wednesday, November 23, crashed 5 per cent to hit a new 52-week low of Rs 317 on the back of the expiry of the six-month IPO lock-in. At 3 PM, the stock quoted Rs 321.05, slipping 4.14 per cent on the NSE.

In response to the spurt in volume in the shares, the company in an exchange filing on Tuesday said, "...in our view, there are no other events or incidents in the nature of price sensitive information which are required to be disclosed or have not been disclosed through the Stock Exchanges."

The lock-in period of Delhivery ended on Monday, November 20. CA Swift Investments sold half of its holding in the online logistics platform at an average price of Rs 330.02 apiece, according to NSE data, taking the transaction value to Rs 607.38 crore.

TRENDING NOW

According to the bulk deal data available with the National Stock Exchange, CA Swift Investments offloaded 1,84,04,607 shares, amounting to a 2.5 per cent stake in the company.

The stock has now tanked nearly 40 per cent from its 52-week high of Rs 708 on NSE. In fact, Delhivery's share price has slipped below the IPO issue price of Rs 487.

The Gurugram-based company launched its initial public offer (IPO) on May 11. It made its market debut on May 24 and listed with a nearly 2 per cent premium against its issue price of Rs 487. The stock was listed at Rs 495.20, a gain of 1.68 per cent from the issue price on the NSE.

Click Here For Latest Updates On Stock Market | Zee Business Live

TAGS: