[the_ad id="83613"]

CPPIB invests $115 Mn in Delhivery for 8% stake


Eighteen days after receiving the nod from the Competition Commission Of India (CCI) to buy 8% stake in the logistics firm Delhivery, Canadian pension fund CPPIB has finally executed the deal by investing $115 million in the logistics firm.

CPPIB has reportedly made the investment through its Fundamental Equities Asia Group. As a part of the deal, CPPIB will receive a board seat in the company.

Delhivery has been valued at around $1.5 billion in the financing round.

The deal culminated three months after initial reports surfaced suggesting CPPIB in advanced stage to pick up the stake in the Softbank-backed company through a secondary purchase from existing shareholders.

Moreover, this is the second investment by CPPIB, which has been increasingly focusing on emerging markets, in the Indian startup ecosystem. Last year in December, CPPIB participated in $400 million round in Byju’s.

Delhivery provides a full suite of logistics services in more than 1,800 cities and has registered over 450 million transactions since its inception.

Four months ago, Delhivery had closed Series F round with $413 million led by SoftBank Vision Fund, which holds over 23% of stake in the logistics firm.

Delhivery counts E-com Express, Blue Dart, Xpressbees and Shadowfax among others as its major competitors.

Eight-year-old firm, which has about 30 fulfilment centres in 12 cities for B2C and B2B services, had acquired the Indian business of Dubai-based logistics firm Aramex in February this year.

About Author

Entrackr is a new age media platform for entrepreneurs, startups and technology enthusiast Read More >

©️ All rights reserved Bareback Media Pvt. Ltd.

Send Suggestions or Tips