Form of words:
Mumbai: Delhivery Pvt, an Indian logistics and supply chain startup, is planning to file a draft prospectus as early as October for its initial public offering, which could raise around $1 billion, according to people with knowledge of the matter. Is.
The company, backed by SoftBank Vision Fund and Carlyle Group Inc., is aiming to list Mumbai before March next year. One of the people said that the offer could include both new and existing shares.
Founded in 2011, Delhivery handles over 1.5 million packages a day through its 43,000-strong team across India, according to its website. The company completed a Series H funding round led by Fidelity in June. It also counts Fosun International Limited, Tiger Global and Times Internet Limited as its backers.
Delhivery will be adding a strong lineup of Indian startups ready to tap the IPO market in the coming months. Paytm, the country’s leader in digital payments, filed its initial offering documents last month and is expected to raise up to Rs 166 billion ($2.2 billion). Indian e-commerce giant Flipkart and digital education startup Byju’s are also preparing for their first-ever share sale, Bloomberg News reported.
People said the size and time frame of Delhivery’s IPO may still change as the deliberations are on. A representative for the company declined to comment.bloomberg
Read also: Who’s making those EV batteries that are catching fire?
subscribe our channel youtube And Wire
Why is the news media in crisis and how can you fix it?
India needs free, unbiased, non-hyphenated and questionable journalism even more as it is facing many crises.
But the news media itself is in trouble. There have been brutal layoffs and pay-cuts. The best of journalism are shrinking, yielding to raw prime-time spectacle.
ThePrint has the best young journalists, columnists and editors to work for it. Smart and thinking people like you will have to pay the price for maintaining this quality of journalism. Whether you live in India or abroad, you can Here.