Delhivery to raise $400-$500 mn, plans IPO by March 2022

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Logistics and supply chain services company Delhivery is planning to come out with its initial public offer (IPO) between December 2021 and March 2022.Since it is an Indian company and has a substantial business here, Delhivery will list locally. It is unlikely to postpone the IPO, unless there is a third wave of COVID-19 pandemic which affects market sentiment, Delhivery co-founder and CEO Sahil Barua said.

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"The company is still working out details of the issue, including its size. However, given that we already have substantial cash on our balance sheet, we expect it to be a primary issue in the $400-500 Mn range," Barua told Economic Times.Delhivery plans to use the IPO proceeds to expand its cross-border and technology verticals.

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