Delhivery plans IPO by March 2022, to raise US$ 400 - US$ 500 million
- IBEF
- June 8, 2021
Delhivery, a logistics and supply chain services firm is planning for its initial public offer (IPO) between December 2021 and March 2022.
Being an Indian-based company, it plans to list in the country itself.
Delhivery co-founder and CEO, Mr. Sahil Barua said, “In case of any emergence of the COVID-19 third wave, the company may consider postponing the IPO.”
He said, "The company is still at the initial phase of designing the issue details, including its size. However, considering the large cash on the company’s balance sheet, it is expected it to be a primary issue in the range of US$ 400 – US$ 500 million.”
Last week, the company announced a raised capital of US$ 275 million in Series H round, led by Fidelity Management and Research Company, a Boston-headquartered investment firm, that took the company’s valuation > US$ 3 billion.
Delhivery intends to leverage the IPO earnings to grow its cross-border and technology verticals. Delhivery MD and Chief Business Officer, Mr. Sandeep Barasia said, “We have a huge cash, which indicants that we could invest in the required working capital, assets and technology.”
The company also aims to focus more on acquisitions. Mr. Barua stated, "We plan to focus more on strategic acquisitions going forward.”
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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