Indian startup Delhivery plans $1bn IPO before March 2022
NDIAN logistics & supply chain startup Delhivery plans to file its draft prospectus in October for its Initial Public Offering (IPO) to raise about $1 billion, Bloomberg reported.
The IPO is likely to hit the market before March next year.
The Delhi headquartered company, backed by SoftBank Vision Fund & Carlyle Group Inc, will be the latest Indian startup that is ready to tap the IPO market in the coming months.
According to the report, the IPO could include both new and existing shares.
Delhivery on Wednesday (25) said it acquired Bengaluru-based Spoton Logistics, a move aimed at further strengthening its B2B capabilities.
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.
Paytm, the country’s leader in digital payments, filed its preliminary offering documents last month and could raise as much as $2.2bn. 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 reported.