On-time and cost-efficient delivery is the backbone of the e-commerce industry. Since 2011, Delhivery Pvt, an Indian logistics and supply chain startup, is providing exemplary services to the Indian e-commerce ecosystem. Now, the logistic firm plans to file a draft prospectus as soon as October for its initial public offering(IPO) to raise $1 billion.
Delhivery Will File $1 Billion Draft in October
As per the anonymous person who did not reveal his identity, Delhivery’s initial preparation is on to raise $1 billion from its much-awaited IPO. The logistic giant may file a draft prospectus with concerned authorities in October 2021.
The company, backed by SoftBank Vision Fund and Carlyle Group Inc., is aiming for a public listing on or before March 2022, said the insider, who did not reveal his identity in the public domain. The public offering will be a mix of new and existing shares, one of the people said.
Since the IPO talk is in the initial phase so the insider person further revealed that the size and exact IPO starting date may change in the future. When contacted, the Delhivery spokesperson did not comment anything on the leaked information.
Delivery, Paytm, Flipkart, and Byju’s public offerings are the much-awaited ones in the Indian startup ecosystem. Paytm has already filed its preliminary documents last month and plans to raise $2.2 billion. While e-commerce giant Flipkart and digital education startup Byju, are also preparing for their first-time share sales, as per Bloomberg reports.
About Delhivery Growth
A decade-old startup Delhivery claims that it handles over 1.5+ million packages every day with the help of 43,000+ employees. In 2011, the firm started its journey with 150+ employees and used to deliver 500+ shipments for five e-commerce firms in Delhi-NCR.
The company closed a Series H funding round in June led by Fidelity. Fosun International Ltd., Tiger Global, and Times Internet Ltd. are the other major backers of the logistic giant.
In 2020, Delhivery has established 3 new mega trucking terminals across Delhi, Mumbai, and Bengaluru.
The firm has successfully delivered over one billion packages to date. Delhivery serves 7.6 lakhs sellers from 28000+ cities, as per its website data claim. In 2021, the startup has also initiated consumer-to-consumer express parcel shipping.
With a strong presence in 19400+ pin codes, the startup has become one of the largest shipment delivery service providers in India.