Delhivery jumps over 10% post tepid debut: Should you hold or sell shares?

Analysts remain mixed over the Gurgaon-based logistics firm Delhivery due to volatile market conditions and loss-making nature of the company.

Logistics firm Delhivery debuted bourses at Rs 493, 1.23 per cent higher from its upper price band on Tuesday at the BSE. The stock hit a high of Rs 543, 10 per cent up from its listed price on the BSE. In comparison, the S&P BSE Sensex remained flat at 54,200 levels. Delhivery’s Rs 5,235 crore initial public offering (IPO), the second-biggest that markets saw in 2022 after Life Insurance Corporation of India (LIC), was subscribed 1.63 times on the final day.

While the issue saw bumper response from qualified institutional buyers with 2.66 times subscription, retail investors and non-institutional