Synopsis
The Delhivery IPO won’t be delayed beyond March 2022, CEO Sahil Barua says, adding that the supply chain and logistics startup has substantial cash on its balance sheet.
ETtech
Delhivery is the third venture from SoftBank Group Corp’s India portfolio after PolicyBazaar and Paytm that is working towards an IPO in the near term. (Illustration: Rahul Awasthi/ETtech)
Bengaluru | Mumbai:Delhivery, a new-age logistics and supply-chain startup plans to list in India anytime between December 2021 and March 2022, its co-founder and chief executive Sahil Barua has said.
The company joins a group of late-stage homegrown technology firms that are on course to tap the buoyant public markets. Unless there is a severe third wave of Covid-19 affecting market sentiment, Delhivery is unlikely to postpone its initial public offering (IPO) timeline, Barua told ET in an exclusive interview.
The Gurugram-headquartered startup said in a regulatory filing that it raised $277 million in what it expects to be the final funding round before the IPO
Delhivery on Monday said it has raised USD 275 million (about Rs 1,995 crore) in a primary funding round, led by Fidelity Management and Research Company, ahead of the e-commerce logistics startup s plans to get listed in the coming months. The company said some other public market funds also participated in the round but did not disclose the names of the investors. With the fresh capital, Delhivery s valuation is expected to rise to over USD 3 billion, a statement said. The capital infusion comes in when the company has witnessed healthy revenue growth in 2020-21 despite the pandemic and is well poised on its path to profitability, it added.