NEW DELHI: Logistics unicorn Delhivery, that specialises in providing products for important e-commerce businesses, has raised approximately $270 million in roughly $3-billion evaluation at a pre-IPO around from several investors, such as US-headquartered Fidelity Investments, two individuals conscious of the development stated.
The principal capital infusion comes following the decade-old business was valued at about $2 billion following Steadview Capital spent $25 million to get shares from the firm last December via a secondary trade.
At a secondary trade, the business doesn’t get any cash, as investors sell their bet to fresh players.
In 2019, Canadian Pension Plan Investment Board (CPPIB) purchased an 8 percent stake at the SoftBank-backed firm for about $115 million by an current investor.
The new round of capital has obtained the complete funds raised by the organization to about $1 billion.
Even though a Delhivery spokesperson didn’t comment on the subject, sources confirmed that the business is prepared to go to get a list in 2022.
The growth indicates an increasing interest of international investors at a ton of Indian businesses which are readying themselves for general public records, such as Zomato, Flipkart and Lenskart.
“The planned IPO is going to likely be a inflexion point for your organization and also for the logistics industry as such, because there is increasing attention from international investors in big Indian startups and also the business is deepening their electronic capabilities and appearing at a bigger B2B play around customer businesses in addition to industries like pharma and automobile,” said Siddhartha Nigam, associate, Grant Thornton Bharat.
Delhivery, that has narrowed its declines significantly to approximately Rs 270 crore from FY20 and fostered its earnings, was planning to complete the 2021 fiscal year with earnings of about Rs 4,000 crore that will pit it straight from the likes of standard logistics giants like Blue Dart and Fedex, an senior Delhivery executive’d previously told TOI.
Delhivery Increases $270 million in pre-IPO Around
