The logistics firm Delhivery will indicate the appetite for new investors in Mumbai after Life Insurance Corporation of India ( LIC).

On Tuesday, the list was prepared by Delhivery Ltd after an initial public offer (IPO) raised Rs 5,235 crore ($684 million). LIC milestone deal is the second-largest deal in India this year. Meanwhile, The two offerings include:

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A cut in final proceeds.
A delay on the back of volatile markets.
A rush by funds to place bids in the final hours.

Initially, the logistics and supply chain has startups and shareholders seeking tortoise about $ 1 billion in a deal expected to price in March. Global IPO got trained by woes tied to rising inflation and central banks raising rates, plus risk-off sentiments triggered by the war in Ukraine.

Holders selling shares in Delhivery’s IPO are SoftBank Vision Fund and Carlyle Group Inc. In the end, Delhivery shares received 63 per cent more bids than the amount being sold, with a pick-up in demand coming on the last day and supported mostly by qualified institutional buyers.

Similarly, in LIC’s IPO, last min rush by foreign institutional investors stepped up their orders in the last hours before the close of subscription on May 9.