Delimobil expanded its shares – Kommersant FM
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Delimobil raised more than 4 billion rubles during the IPO, an increase of 1 billion rubles. more than the originally planned amount. As the company said in a statement, it was decided to increase the supply volume on Monday amid high interest from investors. As a result of the placement, the market capitalization of the service amounted to over 46.5 billion rubles.
Delimobil has been conducting its initial public offering since the end of January. They were sold for 265 rubles, that is, at the upper limit of the price range. Portfolio manager at BCS World of Investments Vitaly Gromadin notes that the results of the company’s IPO are impressive: “Despite the increase in volumes, the company still placed at the upper limit of the announced range. Of course, I would like it to be cheaper, but given such high demand from retail investors this is understandable in principle.
Delimobil is a well-known brand; it occupies a large share of the Moscow car sharing market, at 40%. But I liked the communication with the company itself, the top management and the main shareholder. Their goal is clearly not just to raise money, roughly speaking, but to develop. We sold only new shares, so all the money will go to the company, and, of course, it needs it, given the fact that we have a high key rate.
Delimobil has a positive future, at least in the Moscow region, where the cost of maintaining a car is high due to the same paid parking. The company has plans for development in the regions. Whether it will work out or not is still a question, but in general, even taking into account the rise in car prices, this is an attractive investment story.”
Last year there was a so-called IPO boom on the Moscow Exchange. Several large companies entered the market at once. For comparison, in 2022, only the electric scooter rental service Whoosh decided to take this step. At the beginning of the placement, the company’s shares fell by more than a quarter, but subsequently showed positive returns. In 2023, IPOs were launched by Mosgorlombard, Yuzhuralzoloto, Eurotrans, as well as the Genetico medical center, IT solutions provider Softline and software developer Astra. The least profitable were shares of fintech service CarMoney and retailer Henderson.
What market players are investors looking for now? Managing Director of the investment company Ivolga Capital Dmitry Alexandrov believes that the most promising will be the launch of IPOs of IT companies: “It is profitable for any business to enter the stock market. When the key rate is 16% per annum, it is expensive and unprofitable to attract loans, loans or issue bonds. And in this regard, attracting investors at fairly good multipliers, and all recent placements are taking place with increased multipliers, is certainly a profitable business.
Last year, the dynamics of IPO transactions were mixed. Most of it turned out to be not very profitable for investors. CarMoney shares fell 30% against a 40% rise in the overall market. “Mosgorlombard” did not collect the book and placed it below expectations, then the price decreased. But at the same time, there were also positive transactions, for example, with Sovcombank or Astra. Probably, investors are now primarily looking for IT companies. Diasoft has announced its desire to float, and there are several other companies that are preparing share issues. But first of all, you need to look at the parameters of the deal; the industry is secondary here.”
For several months now it has been impossible to place shares at the Kaluga distillery Kristall. The company announced plans to hold an IPO before the end of the year in early October. After that, she postponed the release several times. As stated in the Finam financial group, which is to organize the initial public offering of Kristall shares, the adjustment in timing is associated with a large number of placements – the Central Bank is overloaded and takes longer to study documents.
Everything is clear with us – Telegram channel “Kommersant FM”.
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