SoftBank-backed Delhivery eyes IPO within next 12-18 months

The Gurugram-based startup has already tapped consultants and advisory firms with its planned debut, said chief business officer Sandeep Barasia. The exec added that while Delhivery is waiting for upcoming foreign listing rules, it still favors an Indian IPO.

Livemint previously reported that the Securities and Exchange Board of India (SEBI) was finalizing its ruling on overseas IPOs. This may include forcing Indian firms to also list their shares in the country if they choose to go public elsewhere.

“We have to wait for the SEBI guidelines, and if we have full freedom on where we can list, then we will pick the best market, and that best market might be still India for us,” said Barasia.

According to the report, Delhivery may face other regulatory roadblocks in its path to an IPO, including its track record of profitability.

Founded in 2011, the supply chain service provider became a unicorn at a US$1.6 billion valuation last year after raising US$413 million in a funding round led by SoftBank Vision Fund. Other Indian startups eyeing IPOs include Zomato, Paytm, Ola, and Grofers, among others.