Another top-level exit added to Dunzo cart in times of term sheets

Dunzo, the quick commerce and logistics player, has received two to three term sheets from investors, aiming to raise Rs 300-400 crore, even as it faces its second top-level exit. Discussions regarding the raised funds are still ongoing, according to sources familiar with the matter.

The sources also added that Reliance has informed the founders that they do not plan to acquire the company or increase their equity stake further. However, they are willing to support any fundraising efforts.

“Reliance already holds a 26 per cent stake in the company and has no plans to increase it further. Nevertheless,