Delhivery's IPO opens on May 11🚚, Paytm grants 4 mn Esops💱, Bitcoin hits 10-month low🔻
Delhivery's Rs 5,235 cr IPO, Paytm grants 3.9 million new Esops, Bitcoin falls to a 10-month low, Funding Deals & more.
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Delhivery's Rs 5,235 cr IPO opens on May 11 with price band of Rs 462-487📊
Logistics start-up Delhivery’s Rs 5,235-crore initial public offering (IPO) will open for subscription on May 11, and the issue will close on May 13. This will be the second-biggest offering so far this year after the Life Insurance Corporation of India (LIC).
The company’s market value on a post-dilution basis will be Rs 35,284 crore at the upper end of the price band of Rs 462-487 per share.
Gurugram-based Delhivery is the largest fully integrated logistics services player in India by revenue. It has built a nationwide network in every state, servicing 17,045 PIN codes, or 88.3% of the 19,300 PIN codes in India.
Paytm grants 3.9 million new Esops💱
One97 Communications Ltd, which owns digital payments firm Paytm, has granted 3.9 million new employee stock options (Esops) to its staff under One97 Employees Stock Option Scheme 2019.
At the current share price of Paytm, which is around ₹556 apiece, the total value of the new stock option grant is around ₹217 crore.
Paytm’s stock has taken a hammering in the public markets since it got listed on the bourses in November last year at an IPO price of ₹2,150.
Bitcoin falls to a 10-month low, other cryptocurrencies in red🔻
Bitcoin fell to its lowest level since July 2021 on Monday as slumping equity markets continued to hurt cryptocurrencies, which are currently trading in line with so-called riskier assets like tech stocks.
Bitcoin dropped to as low as $32,763.16 shortly before 4.30 pm IST, in its fifth consecutive session of falling.
The cryptocurrency has dropped 13% so far in May and has lost more than half its value since it hit an all-time high of $69,000 last November.
Ether, the world's second-largest cryptocurrency, which underpins the Ethereum network, fell as low as $2,360 on Monday, its lowest since late February.
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