DelhiVery plans to use funds from upcoming IPO for acquisitions | The Financial Express

DelhiVery plans to use funds from upcoming IPO for acquisitions

Cutting-edge tech to help DelhiVery offer end-to-end services

DelhiVery plans to use funds from upcoming IPO for acquisitions
He said that the company's operating system makes it stand out as a logistics player and he expects that the company would become profitable as it grows its operations.

By Devbrat Roy Chaudhary

Logistics firm DelhiVery plans to offer its customers integrated, end-to-end services with the aid of its cutting-edge technology, Sandeep Barasia, ED and chief business officer, said.

The company, which is likely to launch its initial public offering (IPO) next week, feels that getting listed would enhance its governance and turn it into a truly public-owned enterprise. “We would also be using the funds raised through the IPO for acquisitions,” Barasia said.

He said that the company’s operating system makes it stand out as a logistics player and he expects that the company would become profitable as it grows its operations.

“We are primarily a technology and data science company, which is also into logistics,” added Barasia.

Kapil Bharati, co-founder and chief technology officer of the company, pointed out that the company was making use of a technology stack which had been built in-house for its operations. “We have built 80-odd applications which are being used by different stakeholders. We are also looking to export the technology to other countries, having already done a pilot project in Sri Lanka,” Bharati said.

With its 120+ gateways, 20+ automated sort centres, 80+ fulfilment centres and 2,200 direct delivery centres, the company has covered 90% of the country, operating over 15 million sq ft of leased infrastructure at a pan-India level. It provides supply chain solutions to a diverse base of 21,342 active customers, such as e-commerce marketplaces, D2C e-tailers, and enterprises and SMEs across verticals like FMCG, consumer durables, liftstyle, retail, automotive and manufacturing.

(Travel for this story was sponsored by DelhiVery)

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First published on: 03-05-2022 at 06:00 IST