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Delhi-based logistics startup Delhivery has raised $277 million, pushing its valuation to around $3 billion. The IPO-bound startup’s latest round of funding was led by US-based Fidelity. Singapore’s GIC, Ballie Gifford, and Chimera also participated in the round.
While Fidelity has infused $125 million in the startup, $75 million was pumped in by GIC. The investment also comes six months after Steadview Capital bought $25 million worth of secondary shares from an early investor in Delhivery.
The ten-year-old startup which is looking ahead to go public next year is aiming to raise $650-$800 million in the market listing and is already in talks with Kotak Mahindra Capital, Citibank, Bank of America, Axis Capital, among others as per media reports. The startup will be expecting to peg the valuation around $4 billion for its IPO.
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SpiceJet matter: Sebi disposes of adjudication proceedings against Axis Capital
SpiceJet matter: Sebi disposes of adjudication proceedings against Axis Capital
Sebi on Friday disposed of adjudication proceedings against Axis Capital, saying the alleged violation of the merchant banker norms could not be established against it with respect to foreign currency convertible bonds issuance by SpiceJet India Ltd back in 2010.
It was alleged that Axis Capital (formerly known as Enam Securities) had amended the Share Purchase Agreement (SPA) on October 5, 2010, after the issuance of observation letter by Sebi on October 4, 2O10.
The share purchase agreement was entered into between acquirers KAL Airways and Kalanithi Maran SpiceJet and four WLR entities WLL Recovery III Ltd, WLR Recovery IV/ ESC Ltd, India Asset Recovery Fund Ltd and WLR/GS India Ltd.