Delhivery IPO: $500 Million By The End Of 2021

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Delhivery, one of the largest supply chain and logistics startups in India, has spilt more beans about its IPO. Just a week ago the company raised $277 million led by US-based Fidelity. Now the company has disclosed that Delhivery IPO won’t be delayed beyond March 2022.

The top management has started putting all the building blocks in place required to launch a successful IPO. And their visibility to launch Delhivery IPO seems to be on track as Sahil Barua, CEO – Delhivery, is not shying away from disclosing some crucial information.

Sahil has disclosed that the company is aiming to raise anything between $450 million and $500 million from Delhivery IPO. He also said that the company has substantial cash on the balance sheet.

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Delhivery IPO: The Big Picture

  • Delhivery is the third Softbank backed startups that are bound to go public this year. Paytm and PolicyBazaar are the other two that are also working towards floating their IPO this year.
  • Delhivery posted record revenue of Rs 3,700 crore ($500 million) in 2020-21.
  • The valuation of Delhivery soared to $3 billion after the recent find raising a round of $277 million from a fleet of investors.
  • Delhivery’s revenue more than doubled in just 2 years. Covid19 played a crucial role in this rise as a record number of online shoppers turned towards eCommerce stores, which partnered with Delivery for last-mile delivery.
  • The company has so far raised a total of $925 million, doubling its valuation in the last two years.
  • The top management exports to clock 50% – 55% yearly growth rate in near future.

Delivery IPO: The Takeaway

After the Indian government relaxed the norms for a public listing, Indian startups are planning to make the most of it as soon as possible. Besides Zomato and Paytm few more startup unicorns are exploring the viability of their IPO in the next 8-12 months.

Unlike last year, Indian startups are now preferring to launch their IPO in India. Rumours are making round that few startups are still evaluating option of launching their IPO in NYSE or NASDAQ to achieve a higher valuation.

The Delhivery IPO plan stays on the course unless the third wave of Covid19 plays a spoilsport. However, the biggest challenge for the management is to meet the expectations of the market and keep their growth rate intact after the dust settles and people are back to their normal life post-Covid19 era.

The Question:

Is this the reason why Delhivery is planning to float its IPO to make the most of the impressive growth rate clocked during Covid19 era before people start syncing back into their usual shopping habits?

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