BENGALURU – Shares of Delhivery (an Indian logistics startup backed SoftBank Group) rose by 7.6% during Tuesday’s initial market debut. This gave the company a valued of 379.60 Billion rupees ($4.89 Billion).

Gurugram’s company offers parcel transport, warehousing and cross-border supply chain services to over 23,000 clients. It also counts prominent e-commerce websites like Amazon (NASDAQ.) Inc, Walmart (NYSE.:) Inc, Flipkart, as customers.

Nearly 30% of Delhivery’s IPO was raised to 52.35 trillion rupees. This month Delhivery received 1.63 subscriptions at a price of 487 rupees.

This offering consisted of a new issue of shares of up to 40 million rupees, and an offer of sale of shares of 12.35 billion rupees by existing shareholders. Carlyle Group SoftBank and Inc (NASDAQ:)

($1 = 77.5680 Indian dollars)