Five co-founders are run Delhivery, one of the most popular logistics startups in India. Recently, Delhivery announced its Initial Public Offerings (IPO) in the market. But the twist came when two of the five co-founders stepped out of the company ahead of its IPO launch.
According to a Times of India report, Bhavesh Manglani and Mohit Tandon have been “out of work” and have been dubbed ‘retirement / unemployed.’ The rescheduling is done as promoters have time to lock up before selling their shares behind the list.
Other founders of the clothing company are Sahil Barua, Kapil Bharati, and Suraj Saharan. All five founders together hold less than 10% of the company’s shares.
The company was founded in 2011. Today, it claims that its team has filled more than 850 million orders in more than 300 million homes throughout India. On its website, the company has identified 24 automated centers, 85+ filling centers, 70 centers, 3,000 direct delivery centers, 7 500+ partner centers, 15,000+ vehicles, and 40,000+ team members performing it has been possible to deliver one million packages.
The company provides precise parcel delivery, LTL and FTL freight forwarding, return delivery, border crossings, B2B and B2C buildings, and technology maintenance. Since its inception, the logistic unicorn has successfully shipped more than 850 million orders to more than 300 million homes throughout India. The company has 24 automated centers, more than 85 performance centers, 3,000 direct delivery centers, 7500 partner centers, 15000 vehicles and 4,400 team members, and 70 locations that help lead the market.
This month, Logistics unicorn Delhivery was reportedly in talks with several global investors, including US Fidelity, to raise money before it went public. In December, as Delhivery press release, Steadview Capital bought a second stake worth $ 25 million from a logic unicorn. The asset company has raised $ 959.6 Mn in markets such as SoftBank, Fosun International, Canada Pension Plan Investment Board, and Steadview. In 2019, He joined a unicorn club after raising $ 413 Mn for investors such as SoftBank. Now, the company is ready to offer its first public offering (IPO) this year, at the cost of $ 3.2-4 Bn.