JOIN USDelhivery plans mega $1 billion IPO
By Baiju Kalesh,
Logistics & supply chain startup Delhivery, plans to file its draft prospectus as early as October for its Initial Public Offering (IPO) that could raise about $1 billion, people in the know said.
The Delhi headquartered company, backed by SoftBank Vision Fund & Carlyle Group Inc., is targeting its D-Street debut before March next year, said the people, who asked not to be identified as the information is private. The offering could include both new & existing shares, one of the people said.
Delhivery was founded in 2011 & handles more than 1.5 million packages/day through its 43,000-strong team across India. It completed its Series H funding round in June led by Fidelity. It also counts Fosun International Ltd., Tiger Global and Times Internet Ltd. among its backers.
Delhivery would add to a strong lineup of Indian startups that are ready to tap the IPO market in the coming months. Paytm, the country’s leader in digital payments, filed its preliminary offering documents last month and could raise as much as ₹166 billion ($2.2 billion). Flipkart, the Indian e-commerce giant controlled by Walmart Inc., and digital education startup Byju, are also preparing for their first-time share sales, Bloomberg News has reported.