BENGALURU, May 24 Reuters Shares of Delhivery, an Indian logistics startup backed by SoftBank Group, rose as much as 7.6 in their market debut on Tuesday, giving the company a valuation of 379.60 billion rupees 4.89 billion.

The Gurugrambased company39;s services include parcel transportation, warehousing, crossborder and supply chain services to more than 23,000 customers, and counts popular ecommerce sites such as Amazon Inc and Walmart Inc39;s Flipkart as its clients.

Delhivery39;s IPO, trimmed by nearly 30 to 52.35 billion rupees, was subscribed 1.63 times earlier this month at an offer price set at 487 rupees.

The offering included fresh issue of shares worth up to 40 billion rupees and an offer for sale of shares worth 12.35 billion rupees from existing shareholders, including U.S. privateequity firm Carlyle Group Inc and Japanese conglomerate SoftBank.

1 77.5680 Indian rupees

Reporting by Rama Venkat in Bengaluru; Editing by Sherry JacobPhillips

Source Reuters