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Delhivery raises $277 Mn led by Fidelity

Saransh Pandey

Intern
  • May 31, 2021
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    The Gurugram-based logistics company was also finalising a pre-IPO round which has now materialised.

This year is proving to be a great year for Indian startup ecosystem as a lot of companies such as Zomato, Lenskart, Flipkart and Freshworks are set to go public. While Zomato had filed its draft red herring prospectus, Delhivery has been busy in doing the groundwork for its initial public offering in 2022. 

The Gurugram-based logistics company was also finalising a pre-IPO round which has now materialised. According to regulatory filings, Delhivery has passed a special resolution to allot 5,63,349 Series H preference shares at an issue price of Rs 35,655 per share to raise Rs 2,008.62 crore or $277.4 million. 

Boston-based Fidelity Investments has led the round with Rs 913.01 crore or $126 million whereas Gamnat Pte has put in Rs 547.8 crore or $75.6 million. Abu Dhabi-headquartered Chimera Investments and Pacific Horizon Trust have invested Rs 365.5 crore or $50 million and Rs 182.6 crore or $25 million respectively. 

The fresh primary infusion in the decade-old firm has come after 20 months. In September 2019, Delhivery had raised $115 million from Canadian pension fund CPPIB. In December, Steadview had picked up $25 million worth of secondary shares in the company. 

Delhivery had allotted partly paid shares worth Rs 178.5 crore or $24.6 million to 17 people in its leadership team including the founders. Sahil Barua and Kapil Bharati along with Chief Business Officer Sandeep Barasia, Chief Operating Officer Ajith Pai and Chief Financial Officer Amit Agarwal were allotted shares worth Rs 24.63 crore or $3.4 million each.  

With the fresh infusion, Delhivery has raised over $1.1 billion across several institutional rounds. The company claims to have a presence beyond 17,500 pin codes with a full suite of logistics services. Recently, Delhivery had claimed to have fulfilled over 800 million orders since its inception in 2011. 

 

  

 

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