Insta
After Paytm, Nykaa Now Softbank-Backed Delhivery To For An IPO; Listing Likely Between Dec 2021-Mar 2022
Source: Delhivery's official website
Sahil Barua led supply chain and logistics unicorn Delhivery is gearing to list on the Indian bourses anytime between December 2021 to March 2022, reports Economic Times.
Sharing details of the plans, Barua said that though the company is still working out the details of the initial public offering (IPO) and its size, Delhivery will most likely go for a primary issue to raise between $400-500 million as the company already has substantial cash on its balance sheet.
Barua added, "We are going into a public listing sitting on $550 million in cash and we don’t burn money." He also said, "Since we are an Indian company and have a substantial part of our business here, we will list locally."
It should be noted that in its latest fundraising round of $277 million which concluded about a week ago, the company was valued at $3 billion. The round saw United States (US)-based Fidelity Management and Singapore's GIC join the list of investors in the company which includes the likes of Masayoshi Son-led Softbank Group.
Other than Delhivery, Paytm and Policybazaar are other Softbank Group's portfolio companies that are also working towards an IPO in the near term.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.
Latest
