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Kul Bhushan · · 1 min readIndian logistics firm files for $1b IPO
“Indian logistics startup Delhivery seeks to raise about US$998 million in its initial public offering, the startup said in a filing with the local regulator, joining a number of other tech startups in the world’s second largest internet market to explore the public markets,” TechCrunch reports.
Details:
- The company aims to raise US$668 million through the issuance of fresh shares, and it will have an offer for sale worth US$329 million, according to its filings with the Securities and Exchange Board of India.
- Delhivery is reportedly eyeing a valuation of US$6 billion in the public market. The startup, which raised US$125 million in September, was last valued at over US$3 billion.
Dive deeper:
- Established in 2011, Delhivery offers a full suite of logistics services such as express parcel transportation, reverse logistics, and end-to-end supply chains. Its services also include cross-border, business-to-business, and business-to-customer warehousing.
- Backed by the likes of SoftBank, Tiger Global Management, and Addition, Delhivery plans to use the proceeds from its IPO for various purposes, such as developing new adjacent business lines, expanding its network infrastructure, improving its logistics operating system, and more.
Editing by Collin Furtado and Lorenzo Kyle Subido
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