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Deepti Sri · · 1 min readSoftBank-backed Delhivery eyes raising $500m in India IPO in 6 to 8 months
“Delhivery, a new age logistics and supply chain startup, plans to list in India anytime between December 2021 and March 2022, its co-founder and chief executive Sahil Barua has said,” The Economic Times reported.
Details:
- The company expects to raise capital within the range of US$400 million to US$500 million, which will be used to develop its cross-border and tech solutions for smaller businesses.
- The CEO said that the timeline for the IPO is unlikely to be postponed, unless the third wave of Covid-19 affects market sentiment. He also expected the company to post an annual growth of 50% to 55% in the near future.
Context:
- The development comes after two of the company’s co-founders, Bhavesh Manglani and Mohit Tandon, left the firm. Both are also expected to sell their shares during the IPO.
- The planned listing marks the third company from SoftBank’s Indian portfolio to work on going public in the near future, after Paytm and PolicyBazaar.
Editing by Collin Furtado and September Grace Mahino
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