Delhivery eyes $500 million IPO in 6-8 months

Indian e-commerce logistics firm Delhivery is gearing up to go public in the next six to eight months with the intention of raising up to $500 million (Rs 3,640 crore) from its initial public offering (IPO), the company’s co-founder and chief executive has said.

Barring the chances of a severe third Covid-19 wave pressuring market sentiment, Delhivery was unlikely to push its IPO timeline back, Delhivery CEO Sahil Barua told The Economic Times in an interview.

“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 million range,” Barua told the publication.