This year is shaping up nicely for the Indian startup environment as a huge number of companies, for example, Zomato, Lenskart, Flipkart and Freshworks are set to open up to the world. While Zomato had filed its draft distraction outline, Delhivery has been occupied in doing the foundation for its initial public offering in 2022.

The Gurugram-based logistics organization was likewise finalizing a pre-IPO round which has now materialized. According to administrative filings, Delhivery has passed a special resolution to distribute 5,63,349 Series H inclination shares at an issue price of Rs 35,655 for every offer to raise Rs 2,008.62 crore or $277.4 million.

Boston-based Fidelity Investments has driven the round with Rs 913.01 crore or $126 million while GIC (Gamnat Pte) has placed in Rs 547.8 crore or $75.6 million. Abu Dhabi-settled Chimera Investments and Pacific Horizon Trust have invested Rs 365.5 crore or $50 million and Rs 182.6 crore or $25 million respectively.

The new primary infusion in the decade-old firm has come following 20 months. In September 2019, Delhivery had raised $115 million from Canadian pension reserve CPPIB. In December, Steadview had picked up $25 million worth of auxiliary offers in the organization.

While a TOI report in March had said that Delhivery is in converses with raise pre-IPO capital at a valuation of $3 billion, the organization is yet to disclose any figure via filings.

Early this year, Delhivery had designated part of the way paid offers worth Rs 178.5 crore or $24.6 million to 17 individuals in its leadership group including the organizers. Sahil Barua and Kapil Bharati alongside Chief Business Officer Sandeep Barasia, Chief Operating Officer Ajith Pai and Chief Financial Officer Amit Agarwal were apportioned offers worth Rs 24.63 crore or $3.4 million each.

It’s important that Bhavesh Manglani and Mohit Tandon, two of the five prime supporters of Delhivery, had proceeded onward from the organization and they have now been reclassified as retiring and non-active advertisers in the IPO-bound firm.

With the new infusion, Delhivery has raised more than $1.1 billion across several institutional rounds. The organization claims to have a presence past 17,500 pin codes with a full suite of logistics services. As of late, Delhivery had claimed to have fulfilled more than 800 million orders since its inception in 2011.

While the organization is yet to disclose its earnings for FY21, it had improved its financial execution in FY20. According to Fintrackr, it has had the option to limit its misfortunes to Rs 269 crore in FY20 from Rs 1,772.7 crore in FY19. During the period, its consolidated income had flooded by 76.4% to Rs 2,988.6 crore when contrasted with Rs 1,694 crore in the previous fiscal year.