<ul><li>The company’s founders Sahil Barua and Kapil Bharati will get appraisals ranging between ₹2.5 crore to ₹10 crore.</li><li>However, three of <keyword id="11931339" type="General" weightage="20" keywordseo="delhivery" source="Orion">Delhivery</keyword>’s founders are missing from this appraisal process.</li><li>It spent ₹85.6 crore on employee benefits costs in the financial year 2021.</li></ul>Top executives and founders of logistics company Delhivery are set to get multi-crore hikes in their salaries pretty soon, the Gurugram-based startup revealed in its draft red herring prospectus (DRHP) filed earlier on Tuesday. Delhivery — which was valued at $3 billion in March 2021 — intends to raise<a href="https://www.businessinsider.in/business/startups/news/logistics-startup-delhivery-files-for-a-nearly-1-billion-ipo/articleshow/87481889.cms"> ₹7,400 crore ($1 billion) with its IPO</a>. The proceeds of this issue will be used to strengthen the company’s technology stack, network and operations. The company’s DRHP has revealed that Delhivery has planned out appraisal for three of its top executives — Cofounder and Chief Executive Officer (CEO) Sahil Barua, Chief Business Officer (CBO) Sandeep Kumar Barasia and Kapil Bharati, who is the cofounder and chief technology officer (CTO) of Delhivery. Barua and Bharati’s new salary will be in the range of ₹2.5 crore to ₹10 crore. Meanwhile, Barasia is scheduled to get an increment in the range of ₹4 crore to ₹12 crore. The appraisal does not include gratuity, medical insurance and other benefits the company offers. There will be additional benefits offered to the three executives on top of this. Delhivery cofounder’s salary and remuneration have increased in the first quarter of FY2022. Both the cofounders’ — Barua and Bharati — salary for Q1 of FY2022 was nearly as much as the remuneration for the entire FY2021. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Executive </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Designation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Salary in financial year ended in March 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Salary in April to June quarter </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sahil Barua </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cofounder and CEO </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4.3 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3.5 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kapil Bharati </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cofounder and CTO </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3.9 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3.4 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sandeep Kumar Barasia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CBO </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12.9 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4.7 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amit Agarwal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CFO </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4.5 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3.3 crore </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: <keyword id="12455579" type="General" weightage="20" keywordseo="delhivery-drhp" source="Orion">Delhivery DRHP</keyword> *Note: This includes salary and additional benefits This appraisal in accordance with the shareholders’ resolution dated October 15 and employment agreement dated October 13. The bonus would finally be decided by Delhivery’s Nomination and Remuneration Committee. Three of Delhivery’s founders are still missing from the appraisal process Delhivery was founded by Mohit Tandon, Sahil Barua, Bhavesh Manglani, Kapil Bharati and Suraj Saharan in 2011. Two of the company’s cofounders — Manglani and Tandon — <a href="https://www.businessinsider.in/business/startups/news/these-were-the-biggest-co-founder-exits-in-the-indian-startup-ecosystem/slidelist/84224683.cms">decided to step away</a> from the company, reportedly to meet regulatory requirements before starting their initial public offering (IPO) process. Cofounder Suraj Saharan, who is the head of New Ventures at Delhivery, was on a sabbatical in the financial year 2021. He did not receive any compensation from the company for fiscal 2021. Delhivery reported a revenue of ₹806.7 crore in the financial year 2021, with its loss mounting to ₹27.3 crore. It spent ₹85.6 crore on employee benefits costs, which includes salaries and wages, gratuity and more. The company has over 12,600 employees. Operations and network design is the biggest workforce in Delhivery’s employee mix. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Function </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employees </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Operations and network design </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10,942 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sales and business development </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">499 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Engineering, data sciences and product </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">474 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Customer services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">375 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Other corporate functions </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">275 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12,665 </td></tr></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO <a href="https://www.businessinsider.in/finance/banks/news/former-sbi-chairman-pratip-chaudhuris-arrest-will-lead-to-policy-paralysis-say-experts/articleshow/87482347.cms" data-type="tilCustomLink" style="">The arrest of former SBI chief Pratip Chaudhuri may prevent bankers from making any risky decisions, say experts</a> <a href="https://www.businessinsider.in/business/startups/news/logistics-startup-delhivery-files-for-a-nearly-1-billion-ipo/articleshow/87481889.cms" style="">Logistics startup Delhivery files for a nearly $1 billion IPO</a> <a href="https://www.businessinsider.in/business/telecom/news/elon-musk-owned-starlink-forms-subsidiary-in-india-will-soon-apply-for-licenses/articleshow/87480590.cms" style="">Elon Musk-owned Starlink forms subsidiary in India, will soon apply for licenses</a>

IPO-bound Delhivery’s top executives are set to get an appraisal of up to ₹12 crore soon

<ul><li>Logistics startup <keyword id="11931339" type="General" weightage="100" keywordseo="delhivery" source="Orion">Delhivery</keyword> is opening its IPO from tomorrow May 11 with a price band of ₹462 to ₹487 per share.</li><li>The company has reduced issue size to ₹5,235 crore from ₹7,460 crore it had decided earlier because of volatile market conditions, and the ₹21,000 crore LIC IPO which could suck out the liquidity from the market.</li><li>Analysts think that the <keyword id="6661978" type="General" weightage="20" keywordseo="delhivery-ipo" source="Orion">Delhivery IPO</keyword> is on the expensive side and hence recommend investors to avoid it.</li></ul>Logistics and supply chain company Delhivery is all set to launch its ₹5,235 crore initial public offering (IPO) tomorrow from May 11 to May 13. The company has reduced issue size to ₹5,235 crore from ₹7,460 crore it had decided earlier because of <a href="https://www.businessinsider.in/stock-market/news/delhivery-ipo-size-cut-down-by-a-third-due-to-market-volatility-and-lic-ipo-say-analysts/articleshow/91348072.cms">volatile market conditions</a> and the <a href="https://www.businessinsider.in/stock-market/news/lic-issue-opens-today-check-out-the-important-dates-and-details-of-the-ipo/articleshow/91295617.cms">₹21,000 crore LIC IPO </a>which could suck out the liquidity from the market. Delhivery’s public issue, which aims at mopping up INR 5,235 crore from the market, includes ₹4,000 crore worth fresh equity shares and ₹1,235 crore via sale of shares by existing investors via the offer for sale (OFS) route. Shareholders like Carlyle, Japanese Softbank, Fosun group-owned China Momentum Fund and Times Internet will sell some of their shares in the IPO. Delhivery provides a full range of logistics services, including express parcel delivery, heavy goods delivery, PTL freight, TL freight, warehousing, supply chain solutions, and cross-border services, among others. Delhivery is raising funds to fuel its future growth The company has proposed to use the net proceeds from the IPO to fund its acquisitions and expansion plans, with an eye on future growth. In August 2021, Delhivery had acquired Spoton to scale their PTL freight services business. The company’s express parcel delivery network services 17,500 pincodes, covering 90.6% of the total 19,300 pincodes in India. The size of the company's active customers have grown four times in the last three financial years along with good growth in pincode reach and delivery points. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pincode reach </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16,677 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15,875 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13,485 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infrastructure (in million square feet) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.85 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.96 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of delivery points </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,382 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,973 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,258 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Team size </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">53,086 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40,416 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28,830 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of active customers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16,741 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,957 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4,867 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Delhivery DRHP What are the analysts saying – should you subscribe to the Delhivery IPO or not? However, despite meaningful growth in its service offerings and revenue, Delhivery is still incurring losses. This is one of the reasons some analysts have recommended investors to skip the IPO. Analysts at BP Equities suggest investors avoid the IPO, saying that it is similar to <a href="https://www.businessinsider.in/stock-market/news/zomato-policybazaar-nykaa-and-paytm-shares-witness-sharp-corrections/articleshow/91365062.cms">new age firms like Zomato, PayTM </a>which have disappointed investors and wiped out a considerable portion of their investments. At the upper end of the price band, the issue is aggressively priced, says a report by BP Equities. “Despite an improvement in the topline, the company continues to make losses. As we are witnessing the negative market sentiment towards the similar category stocks (Zomato, PayTM), we suggest investors to “Avoid” this issue,” added the report. It is worth mentioning that although the company is still not profitable, its losses have reduced by four times in FY 2021-22 when compared to FY 2019-20. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,838 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹415 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,988 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹268 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,694 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹1,783 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Delhivery DRHP Despite appreciating the company’s revenue growth, analysts at Angel One aren’t bullish, yet. “In the Indian markets, no other peer group has the same business model as Delhivery. It has reported good revenue growth of 82% in nine months of FY2022 and it is expected that company may turn EBITDA positive by FY2022 end. Given the expensive valuation, we are assigning a NEUTRAL recommendation to the Delhivery IPO,” said a report by brokerage Angel One. Seconding the views, analysts at Choice Broking have assigned “Subscribe with Caution” rating for the issue considering the company’s loss making operations. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/top-10-loss-making-startups-in-india-in-2021-from-oyo-to-phonepe-and-paytm-heres-the-list/slidelist/91469854.cms">Top 10 loss making startups in India in 2021 – from Oyo to PhonePe and Paytm, here’s the list</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/heres-why-adani-and-jsw-group-are-racing-to-acquire-ambuja-cements-and-acc-from-holcim/articleshow/91465197.cms">Here's why Adani and JSW Group are racing to acquire Ambuja Cements and ACC from Holcim</a>

Delhivery delivers parcels to over 90% of India, but will its IPO deliver returns to its investors? Here’s what the analysts are saying

From Zomato’s IPO to Delhivery’s fundraise to Paytm’s DRHP — These were the biggest developments this week

<ul><li>Logistics startup company <keyword id="11931339" type="General" weightage="20" keywordseo="delhivery" source="Orion">Delhivery</keyword> made a tepid debut on Indian stock exchanges on May 24 due to weak market sentiment and poor financials of the company.</li><li>The company struggled to get demand for its IPO as investors stayed away from the IPO considering Delhivery is a loss-making company.</li><li>Contrary to most views, Credit Suisse has initiated an ‘outperform’ rating and suggested a 26% increase in share price.</li></ul>Gurugram-based Delhivery has often been bunched with other internet-based businesses like Zomato, <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">PayTm</keyword> and <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> — but a brokerage firm doesn’t think so. Though the logistics company banks on delivering goods for top e-commerce players, it doesn’t face what its clients have to do — spend money to acquire customers, as per Credit Suisse. “We prefer Delhivery to other internet peers on no customer acquisition cost, diversified growth — e-commerce and broader logistics, and cheaper valuation for the same growth play,” said a report by the brokerage firm. Credit Suisse initiated coverage on the company which listed at a flat 1% premium on May 24— with an ‘outperform’ rating. It expects the share price to zoom by 26% to ₹675 in a year. It believes that Delhivery has a ‘deep moat’ with scale, growth and profitability. Its rating is based on “strong moat and leadership in extant scale, network and technology, recent breakeven, with incremental growth aiding profitability synergistically, diversified growth in e-commerce, broader logistics and potential merit as an internet play vs others.” <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,882 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,011 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,838 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹415 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,988 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹268 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,694 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹1,783 crore </td></tr></tbody></table>Source: Delhivery DRHP and company filing Delhivery doubles its parcel volume The company also doubled its parcel volumes in FY22 gaining strong market share of around 24-25% in the third quarter — thanks to the business from e-commerce. Credit Suisse expects over 30% structural growth in its e-commerce volumes. While the <keyword id="6661978" type="General" weightage="20" keywordseo="delhivery-ipo" source="Orion">Delhivery IPO</keyword> was subscribed 1.63 times, most of its subscriptions came from the qualified institutional buyer category. The market seems to have lost its appetite for loss-making companies after a bad experience with <a href="https://www.businessinsider.in/stock-market/news/zomato-policybazaar-nykaa-and-paytm-shares-witness-sharp-corrections/articleshow/91365062.cms">Paytm, Zomato</a> and the likes. The company widened its losses by over two times in FY22 to ₹1,000 crore. There were also concerns about its high valuations earning it an ‘avoid’ rating. “Despite an improvement in the topline, the company continues to make losses. As we are witnessing the negative market sentiment towards the similar category stocks (Zomato, Paytm), we suggest investors to avoid this issue,” said a pre-IPO report by BP Equities. Delhivery provides a full range of logistics services, including express parcel delivery, heavy goods delivery, PTL freight, TL freight, warehousing, supply chain solutions, and cross-border services, among others. Yet its high dependence on e-commerce is also a cause for concern. “A significant portion of the company's business is attributable to certain large customers. Their future actions may have an adverse impact on the company’s business. If company fails to expand the size of business with its existing customers, its business, revenue, profitability and growth may be harmed,” said HEM Securities’ on its IPO. Here are recommendations by brokerages at the time of IPO few weeks ago: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ratings </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel One </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BP Equities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Avoid </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Note rated </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Short term investors Avoid the stock, long term can subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe with caution </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/startups/news/india-created-14-unicorns-in-the-first-half-of-2022-before-funding-slowdown-hit-them/articleshow/91955385.cms">India created 14 unicorns in the first half of 2022 — before funding slowdown hit them</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/tech/apps/news/mx-player-launches-ads-free-watch-now-and-pay-later-option-for-users/articleshow/91957004.cms">This OTT player lets you ‘watch now and pay later’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/corporates/news/infosys-could-remain-the-vendor-of-choice-even-if-recession-comes-say-analysts/articleshow/91952813.cms">Infosys could remain the ‘vendor of choice’ even if recession comes, say analysts</a>

Delhivery is nothing like Zomato or PayTM - Credit Suisse expects the stock to outperform

<ul><li>Delhivery has decided to enter the drone technology space directly with the acquisition of US-based Transition Robotics Inc.</li><li>California-based Transition Robotics is focused on building drone or Unmanned Aerial System (UAS) platforms.</li><li>Delhivery is also working with the cargo division of airline firm Spicejet, SpiceXpress, to build <keyword id="2061285" type="General" weightage="20" keywordseo="drone-delivery" source="Orion">drone delivery</keyword> capability.</li></ul>Logistics company Delhivery has decided to enter the drone technology space directly with the acquisition of US-based Transition Robotics Inc, ahead of its initial public offering (IPO) scheduled for next year. California-based Transition Robotics is focused on building drone or Unmanned Aerial System (UAS) platforms — including from hardware to software design to testing, validation, and manufacturing. “While we continue to build our supply chain platform, we must look at the long-term developments poised to shape the industry. Bringing TRI [Transition Robotics Inc] onboard gives us a chance to get directly involved with core drone technology as regulations and use cases for drones are evolving in the country,” Kapil Bharati, chief technology officer at Delhivery, said. The development comes as Delhivery is preparing to start drone delivery trials in India. The company had signed an agreement with cargo division of airline firm Spicejet, SpiceXpress, earlier this year to build drone delivery capability in the country. The two companies — SpiceXpress and Delhivery — have formed one of the consortiums shortlisted by the Directorate General of Civil Aviation (DGCA) to conduct trials on Beyond Visual Line of Sight (BVLOS) drones in India. Zomato, Swiggy, Dunzo, Flipkart and others will also be testing their drone capabilities in separate consortiums. Transition Robotics is Delhivery’s third big acquisition this year. The company had previously acquired software-as-a-service (SaaS) platform Primaseller in March 2021 to strengthen its long-term vision of becoming an operating system for commerce in India. It acquired Spoton Logistics five-months-later to strengthen its customer relationships and service quality, professional management and technology and engineering. The decade-old logistics startup filed its draft red herring prospectus (DRHP) in November to <a href="https://www.businessinsider.in/business/startups/news/logistics-startup-delhivery-files-for-a-nearly-1-billion-ipo/articleshow/87481889.cms">raise ₹7,460 crore</a> via the IPO. SEE ALSO <a href="https://www.businessinsider.in/business/news/zoho-freshworks-and-top-indian-saas-companies-have-given-500-entrepreneurs-to-the-indian-startup-ecosystem/articleshow/88145310.cms" data-type="tilCustomLink">Zoho, Freshworks and top Indian SaaS companies have given 500 entrepreneurs to the Indian startup ecosystem</a> <a href="https://www.businessinsider.in/investment/news/humanoid-robot-sophia-is-entering-the-metaverse-with-intelligent-nfts/articleshow/88156738.cms" data-type="tilCustomLink">Humanoid robot Sophia is entering the metaverse with ‘intelligent’ NFTs</a> <a href="https://www.businessinsider.in/policy/news/here-is-what-to-expect-from-the-rbi-monetary-policy-today/slidelist/88150941.cms" data-type="tilCustomLink">Six charts explain what the market expects from the RBI’s monetary policy review</a>

Delhivery gets closer to drone delivery with the acquisition of an American company

<ul><li>Indian logistics firm Delhivery has filed a draft red herring prospectus (DRHP) to raise ₹7,460 crore through public listing.</li><li>Marquee investors like SoftBank, Tiger Global Management, Times Internet and The Carlyle Group have invested in the 10-year old startup.</li><li>Shares worth ₹5,000 crore will be freshly issued by the firm and remaining chunk of shares will be sold by existing promoters shareholders.</li></ul>Gurgaon-based 10-year-old logistics startup Delhivery has filed its draft red herring prospectus (DRHP) to launch an initial public offering (IPO). Delhivery is looking to raise ₹7,460 crore, which is approximately $1 billion, at current rates, through public listing of shares. Out of the overall IPO issue size, shares worth ₹5,000 crore will be a fresh issue by the company and the remaining ₹2,460 crore will be sold by existing shareholders and promoters. Shares worth ₹920 crore will be sold by CA Swift Investments, ₹750 crore by SVF Doorbell and up to ₹330 crore by Times Internet. Delhivery said it will use ₹2,500 crore out of the IPO proceeds for funding organic growth initiatives, ₹ 1,250 crore for funding inorganic growth through acquisitions and other strategic initiatives. To list its shares publicly, recently the startup had <a href="https://www.businessinsider.in/business/startups/news/delhivery-is-a-step-closer-to-file-of-its-ipo-converts-to-a-public-entity/articleshow/86831171.cms">converted itself to a public limited </a>entity, which will allow it to raise capital from the general public. In a run-up to the IPO, the Gurugram-based startup has already raised half a billion from three prominent investors — <a href="https://www.businessinsider.in/business/news/logistics-platform-delhivery-raises-277-million-led-by-fidelity-valuation-touches-3-billion/articleshow/83105795.cms">Fidelity</a>, <a href="https://www.businessinsider.in/business/startups/news/100-million-investment-in-delhivery-will-help-fedex-gain-prominence-in-india/articleshow/84471579.cms">FedEx</a> and <a href="https://www.businessinsider.in/business/startups/news/logistics-company-delhivery-raises-76-million-ahead-of-its-ipo/articleshow/85997440.cms">Lee Fixel’s Addition</a>. It has raised over $1.3 billion to date from marquee investors like SoftBank, Tiger Global, Times Internet, The Carlyle Group and Steadview. DISCLOSURE: Times Internet, an investor in Delhivery, owns Times Bridge, which is Business Insider's partner in India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/elon-musk-owned-starlink-forms-subsidiary-in-india-will-soon-apply-for-licenses/articleshow/87480590.cms">Elon Musk-owned Starlink forms subsidiary in India, will soon apply for licenses</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-tata-motors-gains-on-strong-demand-for-jlr-despite-14-fold-widening-of-loss/articleshow/87480018.cms">What Tata Motors investors are excited about — obviously not the huge loss</a>

Logistics startup Delhivery files for a nearly $1 billion IPO

<ul><li><keyword id="143842" type="General" weightage="20" keywordseo="mobikwik" source="Orion">Mobikwik</keyword> will not be heading for its IPO in the January to March quarter due to unstable market conditions arising globally.</li><li>Mobikwik had received SEBI approval for its IPO back in November 2021 and has the option to go public by November this year.</li><li>Several analysts have also emphasized that many IPOs may get delayed due to the ongoing conflict between Russia and Ukraine.</li></ul>Indian payment service provider Mobikwik will not be heading for its initial public offering (IPO) in the January to March quarter due to unstable market conditions arising globally. “As you can see, they [markets] are fairly up and down and unstable. And not just in India but even globally. Now thanks to the<a href="https://www.businessinsider.in/politics/world/news/trump-warns-of-a-potential-world-war-as-a-result-of-russia-ukraine-conflict/articleshow/89878873.cms"> Ukraine-Russia war cry</a>, I think, aur he hone walla hai [the instability is likely to extend]. I don’t think it will be possible for any tech companies to IPO anytime soon, definitely not in the next couple of months,” Upasana Taku, cofounder of Mobikwik told Business Insider. “But it is definitely a target for us to get to the public markets. We have the SEBI approval, our numbers even for the December quarter are fantastic… We are ready. Business performance is strong, SEBI approval is there. But the markets are not ready so we have to make sure that we continue building the platform and wait for the right time,” she added. Mobikwik had received Securities and Exchange Board of India’s (SEBI) approval for its IPO in November 2021. The company had <a href="https://www.businessinsider.in/business/startups/news/mobikwik-founder-says-they-are-not-selling-any-shares-in-the-ipo/articleshow/88392998.cms">previously</a> also emphasised that they are ready to go for public listing with stronger financials, however, the company would be jumping into the public market once the conditions are favourable. It is important to note that a company can go for an IPO within 12 months of receiving SEBI’s approval. In this case, Mobikwik has the opportunity to hit the public market by November 2022. The company intends to raise ₹1,900 crore through this IPO,<a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"> according </a>to Mobikwik’s draft red herring prospectus (DRHP). Investors like American Express, Bajaj Finance, Cisco System, Sequoia Capital and Treeline Asia will be selling a part of their shareholdings, the document has revealed. Apart from Mobikwik, other Indian tech companies like hospitality giant OYO, logistics company Delhivery and ecommerce giant Snapdeal are also looking to go public this year. However, these companies are yet to get SEBI’s approval on their IPO. Several analysts have also emphasised that <a href="https://www.businessinsider.in/stock-market/news/russias-ukraine-war-may-give-indias-upcoming-ipos-some-cold-feet/articleshow/89810954.cms">many IPOs may get delayed</a> due to the ongoing conflict between Russia and Ukraine. To add to this, the frequent selling of foreign institutional investors, weak market condition and upcoming manmont IPO from LIC are other factors that may push companies towards other directions. Companies fear that IPOs won’t get a good response and remain undersubscribed, which may also lead to weak listing gains for the investors. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/as-long-as-mukesh-ambani-is-there-to-rescue-the-market-doesnt-care-about-future-retails-financial-stress/articleshow/89886569.cms">As long as Mukesh Ambani is there to rescue, the market doesn't care about Future Retail's financial stress</a> <a href="https://www.businessinsider.in/business/startups/news/indian-startups-like-dunzo-swiggy-dealshare-raised-8-billion-in-january-and-february-2022/articleshow/89890583.cms">Indian startups raised around $1 billion a week in January and February</a> <a href="https://www.businessinsider.in/stock-market/news/sensex-falls-sharply-on-worsening-russia-ukraine-war-hdfc-bank-axis-bank-eicher-motors-among-biggest-losers/articleshow/89886018.cms">Markets remain worried as energy rich Russia faces harsh sanctions from western countries</a>

Mobikwik IPO is not happening this quarter

<ul><li>FMCG company Delhivery will open its IPO today (May 11) and will close on May 13.</li><li>The IPO is a fresh issue of equity shares of ₹3,600 crore.</li><li>Shares of the company were trading at a premium of ₹50 per share in the grey market.</li></ul>Logistics and supply chain company Delhivery is all set to open its ₹5,235 crore initial public offering (IPO) today, May 11. The IPO consists of ₹4,000 crore through fresh issue and ₹1,235 crore as an offer for sale (OFS). Shareholders like Carlyle, Japanese Softbank, Fosun group-owned China Momentum Fund and Times Internet will sell some of their shares in the IPO. The net proceeds from the fresh issue of the IPO will be used to fund the company’s acquisitions and expansion plans. Here are some of the important details of the IPO: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹462-487 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 11 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 13 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 19 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 20 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 23 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">May 24 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">30 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Delhivery provides a full range of logistics services, including express parcel delivery, heavy goods delivery, PTL freight, TL freight, warehousing, supply chain solutions, and cross-border services, among others. The company’s express parcel delivery network services 17,500 PIN codes covering 90.6% of the 19,300 PIN codes in India. However, despite some meaningful growth in its service offerings and sales, the company is still making huge losses. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,838 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹415 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,988 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹268 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,694 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹1,783 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Delhivery DRHP SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/delhivery-delivers-parcels-to-over-90-of-india-but-will-its-ipo-deliver-profits-to-its-investors-heres-what-analysts-are-saying/articleshow/91470992.cms">Delhivery delivers parcels to over 90% of India, but will its IPO deliver profits to its investors? Here’s what analysts are saying</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/top-10-loss-making-startups-in-india-in-2021-from-oyo-to-phonepe-and-paytm-heres-the-list/slidelist/91469854.cms">Top 10 loss making startups in India in 2021 – from Oyo to PhonePe and Paytm, here’s the list</a>

Delhivery IPO opens today — check out important details related to the IPO

<ul><li>The development comes a week after <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword> acquired Just Dial. </li><li>Magicpin was founded in 2015 by Anshoo Sharma and Brij Bhushan. </li><li>It claims to be making $1 billion in annual sales for its clientele of 15 lakh merchants.</li></ul>Gurugram-based hyperlocal discovery platform Magicpin has appointed Zomato’s chief executive officer (CEO) and cofounder Deepinder Goyal as an independent director. Goyal will be joining the hyperlocal discovery platform’s existing board of directors and advisors Lightspeed Venture’s Bejul Somaia, BoAt Lifestyle’s Vivek Gambhir and Waterbridge’s Manish Kheterpal. Commenting on the same, Zomato’s Goyal said, “I am delighted to join the magicpin board. They are a high-quality team, and I am excited about how they are being a driver of growth for local merchants across categories. I am looking forward to contributing to the company's success.” Founded in 2015 by Anshoo Sharma and Brij Bhushan, Magicpin provides a discovery platform that allows merchants and consumers to interact and transact. The company helps drive businesses of local retailers across several categories, including restaurants, fashion, beauty, grocery and others. Magicpin has also launched a OrderHere platform that enables local merchants to set up their online stores and serve customers. The company simplifies catalog creation and management for local businesses. It also offers integrated payments and logistics from top logistics providers such as Shadofax, Dunzo, Rapidoa and Loadshare. It has over 1.5 lakh merchants on the platform, serving more than 50 lakh consumers across 50 cities. The company claims to be driving over $1 billion in annual revenue for its existing partners. It’s clientele includes <keyword id="11672142" type="UNKNOWN" weightage="20" keywordseo="pantaloons-lifestyle-westside">Pantaloons, Lifestyle, Westside</keyword>, <keyword id="131257" type="COMPANY" weightage="20" keywordseo="Taco-Bell">Taco Bell</keyword>, Amazon, <keyword id="10591" type="CITY" weightage="20" keywordseo="Samsung">Samsung</keyword>, KFC, CCD and others. Magicpin has raised close to $41.9 million to date from marquee investors like Google Launchpad Accelerator, <keyword id="11672141" type="UNKNOWN" weightage="20" keywordseo="samsung-venture-investments">Samsung Venture Investments</keyword> and others. The company competes with Just Dial, which was <a href="https://www.businessinsider.in/stock-market/news/mukesh-ambanis-reliance-retail-to-buy-majority-stake-in-justdial-vss-mani-to-continue-as-md-and-ceo/articleshow/84477000.cms">acquired by Reliance Retail</a> only last week. Just Dial has over 30.4 million listings, catering to consumer traffic of 129.1 million quarterly unique users (as on March 31, 2021). Goyal can be a value add to Magicpin’s board, given his experience of building and scaling Zomato. The food aggregator business’s issue was<a href="https://www.businessinsider.in/business/news/zomato-ipo-subscription-status/articleshow/84409991.cms"> oversubscribed by 38 times</a>, as it attracted bids for 2,751 crore compared to the issue size of 71.9 crore shares. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/used-car-platform-spinny-raises-108-million-to-fund-growth/articleshow/84545148.cms">Used car platform Spinny raises $108 million to fund growth and expand its presence across India</a> <a href="https://www.businessinsider.in/business/startups/news/from-zomatos-ipo-to-delhiverys-fundraise-to-paytms-drhp-these-were-the-biggest-developments-this-week/slidelist/84496707.cms">From Zomato’s IPO to Delhivery’s fundraise to Paytm’s DRHP — These were the biggest developments this week </a><a href="https://www.businessinsider.in/business/startups/news/100-million-investment-in-delhivery-will-help-fedex-gain-prominence-in-india/articleshow/84471579.cms">FedEx makes its first strategic investment in India, puts $100 million in Delhivery’s kitty</a>

Zomato co-founder Deepinder Goyal has joined Magicpin as an independent director

<keyword id="107096" type="COMPANY" weightage="20" keywordseo="Tesla">Tesla</keyword> has officially launched its Full Self-Driving (<keyword id="450300" type="ORGANIZATION" weightage="20" keywordseo="fsd">FSD</keyword>) subscription package for $199 per month. Those who previously bought the Enhanced <keyword id="1241857" type="PERSON" weightage="20" keywordseo="autopilot">Autopilot</keyword> package, the FDS feature would cost $99 a month. To date, Tesla offered the Full Self-Driving package for a one-time payment of $10,000. Tesla owners can cancel their monthly FSD subscription at any time, according to the website. According to Electrek, the <keyword id="186291" type="ORGANIZATION" weightage="20" keywordseo="EV">EV</keyword> maker aims to deliver a true level 5 full self-driving system and people buying the package are betting on Tesla achieving that goal. Lat week, Elon Musk-run company started releasing over-the-air software updates for its FSD Beta version 9. The latest beta version is long delayed and was first promised in 2018. Musk has also confirmed that Tesla will release a new user interface with its FSD v9 Beta software update. The new FSD feature enables drivers to use several advanced driver-assist features via Autopilot mode on local, non-highway streets, reports The <keyword id="6765301" type="UNKNOWN" weightage="20" keywordseo="Verge">Verge</keyword>. Full Self-Driving capabilities include navigate on Autopilot, <keyword id="11613004" type="UNKNOWN" weightage="20" keywordseo="auto-lane-change">Auto Lane Change</keyword>, Summon (moves your car in and out of a tight space using the mobile app or key). Despite the Autopilot mode, Tesla has warned that drivers need to keep their eyes on the road and hands on the wheel at all times. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/from-zomatos-ipo-to-delhiverys-fundraise-to-paytms-drhp-these-were-the-biggest-developments-this-week/slidelist/84496707.cms#slideid=84496730">From Zomato’s IPO to Delhivery’s fundraise to Paytm’s DRHP — These were the biggest developments this week</a> <a href="https://www.businessinsider.in/education/news/these-are-some-of-the-universities-that-offer-free-education-for-international-students/slidelist/84463712.cms">Planning to study abroad? These are some of the universities that offer a free education for international students</a>

Elon Musk's Tesla launches full self driving subscriptions at $199 per month

<ul><li>The aggressive hiring will help <keyword id="7349800" type="UNKNOWN" weightage="20" keywordseo="bharatpe">BharatPe</keyword> to launch a slew of products in merchant as well as consumer lending space.</li><li>It has announced a new policy to offer monetary and other incentives for both old and new joinees to attract more talent. </li><li>BharatPe has also preponed tech team’s appraisals by eight months and the team has earned 75% increments.</li></ul>Payments platform BharatPe is looking to grow its technology team by three times, as it plans to launch a slew of products in merchant as well as consumer lending space. The company will be looking to hire more than 100 employees for its tech team by March 2022. The company has also announced a first-of-its-kind ‘Referral &amp; Joining Policy’, under which it will offer incentives to both new employees and the existing employees who refer fresh talent. These range between gadgets, appraisals and other perks. For instance, all new tech team joinees will have the option to choose between bike or gadget packages. The Bike Package and Gadget Package is available to anyone referring tech talent to the company. This would include the BharatPe team as well as alumni of the company. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bike Package </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">BMW G310R, Jawa Parek, KTM Duke 390, KTM RC 390 and Royal Enfield Himalayan </td></tr><tr><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Gadget Package </td><td style="border-left:solid #cccccc 0.9375pt;border-right:solid #cccccc 0.9375pt;border-bottom:solid #cccccc 0.9375pt;border-top:solid #cccccc 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Apple iPad Pro (with Pencil), Bose Headphone, Harman Kardon Speaker, Samsung Galaxy Watch, WFH desk and chair, and Firefox Typhoon 27.5 D bicycle. </td></tr></tbody></table> BharatPe has also preponed the tech team’s appraisals by eight months and the team has earned 75% increments split between cost to company (CTC) and incremental employee stock ownership plan (ESOPs), effective July 1, 2021. Besides this, the company will also host its entire Tech Team in Dubai for the International Cricket Council (ICC) Men’s T20 World Cup from October 17-November 14, 2021. “BharatPe is a tech-first fintech [firm]. As we build the next generation of banking in India, we want to invite and excite the best tech talent to work with us on building market leading products at scale. We will, therefore, be taking the lead in tech talent compensation in India because that’s the only real investment our business needs given the capital efficiency of our model,” Ashneer Grover, co-founder and chief executive of BharatPe said. Founded only three years ago by Grover and Shashvat Nakrani, BharatPe till now focused exclusively on merchant-payments and lending solutions. However, the hiring would also look into launching products focused on consumers. The company is also looking to aggressively build a loan book of ₹5,000 crore and has recently <a href="https://www.businessinsider.in/finance/banks/news/pmc-bank-will-have-a-new-owner-in-centrum-and-bharatpe/articleshow/83639668.cms">acquired </a>the scam-hit Punjab and Maharashtra Co-operative (PMC) bank in a consortium with Centrum Financial services. The company was valued at $900 million, after its $108 million Series D round led by Coatue Management in February 2021. The company’s investors include Ribbit Capital, Insight Partners, Steadview Capital, Beenext, Amplo and Sequoia Capital. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/used-car-platform-spinny-raises-108-million-to-fund-growth/articleshow/84545148.cms">Used car platform Spinny raises $108 million to fund growth and expand its presence across India</a> <a href="https://www.businessinsider.in/business/startups/news/from-zomatos-ipo-to-delhiverys-fundraise-to-paytms-drhp-these-were-the-biggest-developments-this-week/slidelist/84496707.cms">From Zomato’s IPO to Delhivery’s fundraise to Paytm’s DRHP — These were the biggest developments this week</a> <a href="https://www.businessinsider.in/business/startups/news/100-million-investment-in-delhivery-will-help-fedex-gain-prominence-in-india/articleshow/84471579.cms">FedEx makes its first strategic investment in India, puts $100 million in Delhivery’s kitty</a>

From BMW bikes to Apple iPads to T20 World Cup in Dubai — BharatPe is trying hard to woo tech talent

<ul><li><keyword id="125145" type="COMPANY" weightage="20" keywordseo="Nazara-Technologies">Nazara Technologies</keyword> is backed by <keyword id="6398943" type="UNKNOWN" weightage="20" keywordseo="rakesh-jhunjhunwala">Rakesh Jhunjhunwala</keyword>, one of India’s biggest stock market investors. </li><li>The gaming and sports media company is looking to join the league of tech startups looking to go public this year. These include Zomato, Nykaa, and Delhivery. </li><li>This is the second attempt at a market debut. <keyword id="242260" type="COMPANY" weightage="20" keywordseo="Nazara">Nazara</keyword> had earlier filed the DRHP in 2018 but didn't go through with its plans.</li><li>In the last two years, Nazara has made at least seven acquisitions and raised ₹500 crore in funds.</li></ul>Indian gaming and sports media company Nazara Technologies has re-filed the Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI) as the first step towards its market debut. Nazara holds the license mobile gaming rights of popular cartoon characters like Chhota Bheem, Motu Patlu and Shikari Shambhu. It has also established itself in 64 countries across Africa, Middle East, South East Asia, and the Indian subcontinent. The public issue will see a sale of 4.96 million equity shares by Nazara’s promoters and investors. This year, Nazara’s <keyword id="3128913" type="PERSON" weightage="20" keywordseo="IPO-debut">IPO debut</keyword> could kick off a series of tech IPOs in the country as startups like Zomato, Nykaa, Delhivery are headed for the public markets. The Rakesh Jhunjhunwala-backed Nazara had first filed the DRHP in January 2018 and had even got approval from SEBI for an IPO (Initial Public Offering). However it didn’t go ahead with the launch because of a <a href="https://inc42.com/buzz/post-sportskeeda-acquisition-nazara-technologies-looks-at-ipo-in-2020/">market slump. </a> The company has been preparing for its market debut with acquisitions and funding in its kitty. Strengthening its capital base Nazara counts stock broking giant Rakesh Jhunjhunwala, IIFL Asset Management, Sequoia Capital, Plutus Wealth Management as its investors. Earlier in January 2021, WestBridge Ventures, an early investor in Nazara, had exited the company through a secondary transaction as Plutus pumped in ₹500 crore into the company. According to<a href="https://yourstory.com/2021/01/ys-learn-nazara-technologies-gaming-startup-exit-westbridge-capital"> reports</a>, the exit gave WestBridge 40 times the return on its investment. Nazara’s stakeholders <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Promoter </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stake </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mitter Infotech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20.57% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Arpit Khandelwal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.51% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rakesh Jhunjhunwala </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.38% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Plutus Wealth Management LLP </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.91% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IIFL Special Opportunities Fund </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.04% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IIFL Special Opportunities Fund - Series 4 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.94% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IIFL Special Opportunities Fund - Series 5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IIFL Special Opportunities Fund - Series 2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.89% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nitish Mittersain </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.49% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Emerging Investment Ltd </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.90% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IIFL Special Opportunities Fund - Series 3 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.87% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Riyaz Suterwalla </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.73% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Turtle Entertainment </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.68% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manish Agarwal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.51% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Seedfund2 International </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.27% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Anshu Dhanuka </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.02% </td></tr></tbody></table>Source: Moneycontrol Nazara went on an acquisition spree Nazara strengthened its offerings by going on an acquisition drive. It has pumped in over $50 million in startups in the last two years. In fact, its acquisition spree even got it a ‘next Tencent’ reference in a <a href="https://economictimes.indiatimes.com/prime/technology-and-startups/nazaras-acquisitions-will-keep-it-up-to-speed-on-all-things-gaming-next-becoming-indias-tencent-/primearticleshow/79393487.cms">news report.</a> Some of Nazara’s top acquisitions <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Startup </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investment </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paper Boat Apps </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai-based indie studio </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹83.5 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sports Unity </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Creator of multiplayer quiz called Qunami </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7.5 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sportskeeda </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sports media platform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹44 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bakbuck </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Local languages gaming platform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Halaplay </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fantasy gaming platform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹40 crore </td></tr></tbody></table> In November 2019, Nazara technologies said that it plans to invest $20 million in startups next year. This announcement was after in the same year, Nazara had already acquired five companies. “Looking at the explosive growth in the interactive entertainment and sports ecosystem, Nazara has decided to up its aggression on investing in the emerging market ecosystem and support early stage startups accelerating the growth of these companies and the industry at large,” Nazara Technologies CEO, Manish Agarwal had said then. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/indias-parliamentary-committee-summons-facebook-twitter-officials-over-misuse-of-social-media-platforms/articleshow/80321277.cms">India's parliamentary committee summons Facebook, Twitter officials over misuse of social media platforms</a>

The Rakesh Jhunjhunwala-backed Nazara Technologies is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings

<ul><li>The fintech startup is looking to file its DRHP with market regulator SEBI in July.</li><li>It plans to raise $3 billion through its IPO, making it the biggest public market debut in India.</li><li>Food delivery app Zomato and online auto classifieds CarTrade have also filed their documentation to go public this year.</li></ul>Digital payments giant <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> has appointed <keyword id="6361649" type="UNKNOWN" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> and <keyword id="63460" type="CITY" weightage="20" keywordseo="JP-Morgan">JP Morgan</keyword> as merchant bankers for its upcoming initial public offering (IPO), a source aware of the development told Business Insider. The fintech startup is looking to file its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) in July, and expects to make its debt in the public market by November 2021. The company is also looking to appoint more merchant bankers and advisers such as Morgan Stanley and Citigroup Inc for the IPO. The company plans to raise ₹21,800 crore or $3 billion through this public offering, at a valuation of $25 billion to $30 billion. This could be the largest IPO in India, surpassing Coal India Ltd’s offering to raise ₹15,000 crore ($2 billion at current conversion rate) in 2010. Paytm declined to comment when Business Insider reached out. Paytm is currently valued at $16 billion, after <a href="https://www.businessinsider.in/business/startups/news/vijay-shekhar-sharma-opens-next-chapter-at-paytm-as-it-raises-1-billion-from-t-rowe-softbank-and-others/articleshow/72217033.cms">raising </a>$1 billion in November 2019 from T Rowe Price, Ant Group and Softbank Vision Fund. The round catapulted Paytm to the position of the most valued startup in India, and it was recently <a href="https://www.businessinsider.in/business/news/byjus-most-valuable-startup-in-india-and-11th-in-the-world-with-a-valuation-of-16-5-billion/articleshow/83477466.cms">overtaken by BYJU’s</a> that raised $350 million at a valuation of $16.5 billion. Overall, Paytm has raised close to $3.2 billion to date from investors like Berkshire Hathaway, Alibaba Group and more. One97 Communications was founded in 2000 by Vijay Shekhar Sharma, who launched Paytm in 2010. Paytm is one of the biggest digital payments companies in India with offerings across several digital modes of payments like unified payments interface (UPI), credit and debit cards payments. It also offers wealth management solutions through Paytm Money and banking services through Paytm Payments Banks. Paytm is currently said to be in talks with BillDesk, PayU and publicly-listed Infibeam Avenues for a possible acquisition, merger or investments. While Paytm denied the report, a source<a href="https://economictimes.indiatimes.com/tech/startups/paytm-in-exploratory-talks-with-three-payment-gateway-firms-sources/articleshow/83452283.cms"> told</a> ET that the talks are still in the initial stages. Notably, Paytm too has a payment gateway, but the above-mentioned platforms have specialised businesses. Besides this, the Noida-based company may also<a href="https://economictimes.indiatimes.com/tech/technology/paytm-to-get-7-stake-in-japans-paypay/articleshow/82579967.cms"> acquire </a>about 7% stake in QR code-based payments business PayPay Japan. PayPay is a cashless payment service, which is run by a joint venture between SoftBank and Yahoo Japan. It has about 40 million users and facilitates 2 billion transactions annually. Paytm is a technology partner of the Japan-based fintech company. Paytm had reported a marginal drop in its revenues in the financial year 2020, as its revenue dipped from ₹3,391 crore in FY19 to ₹3,350 crore. It also reduced its net loss by 28%, from ₹3,954 crore to ₹2,833 crore. The Indian startup ecosystem is all set to witness some high profile IPOs this year. Food aggregator business Zomato and auto classifieds platform CarTrade have already filed their DRHPs, whereas insurtech platform <a href="https://www.bloomberg.com/news/articles/2021-04-07/softbank-backed-policybazaar-said-to-plan-ipo-filing-next-month#:~:text=Indian%20online%20insurance%20platform%20Policybazaar,The%20SoftBank%20Group%20Corp.">PolicyBazaar,</a> fashion and logistics unicorn <a href="https://economictimes.indiatimes.com/tech/startups/delhivery-to-list-in-6-8-months-expects-to-raise-500-million-via-ipo/articleshow/83296599.cms">Delhivery</a> will be doing so soon. Earlier this year, Nazara Technologies and EaseMyTrip made their debut in the public market. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/bigbasket-makes-more-revenue-than-32-year-old-spencers-retail/articleshow/83570315.cms">Did you know? BigBasket makes more revenue than 32-year old Spencer’s Retail</a> <a href="https://www.businessinsider.in/tech/apps/news/twitter-may-now-be-directly-responsible-for-every-single-tweet-in-india/articleshow/83565645.cms">Twitter may now be directly responsible for every single tweet in India</a> <a href="https://www.businessinsider.in/policy/news/china-will-not-buy-iron-copper-aluminum-zinc-and-some-other-commodities-from-foreign-countries/articleshow/83565216.cms">China has decided to take global commodity bulls by their horns ⁠— to protect the profit margins of its small businesses</a>

You Searched For "delhivery drhp" and got 13 results

IPO-bound Delhivery’s top executives are set to get an appraisal of up to ₹12 crore soon

Kritti Bhalla

Delhivery delivers parcels to over 90% of India, but will its IPO deliver returns to its investors? Here’s what the analysts are saying

Bhakti Makwana

From Zomato’s IPO to Delhivery’s fundraise to Paytm’s DRHP — These were the biggest developments this week

Kritti Bhalla

Delhivery is nothing like Zomato or PayTM - Credit Suisse expects the stock to outperform

Bhakti Makwana

Delhivery gets closer to drone delivery with the acquisition of an American company

Kritti Bhalla

Logistics startup Delhivery files for a nearly $1 billion IPO

Bhakti Makwana

Mobikwik IPO is not happening this quarter

Kritti Bhalla

Delhivery IPO opens today — check out important details related to the IPO

Bhakti Makwana

Zomato co-founder Deepinder Goyal has joined Magicpin as an independent director

Kritti Bhalla

Elon Musk's Tesla launches full self driving subscriptions at $199 per month

IANS

From BMW bikes to Apple iPads to T20 World Cup in Dubai — BharatPe is trying hard to woo tech talent

Kritti Bhalla

The Rakesh Jhunjhunwala-backed Nazara Technologies is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings

Sanchita Dash

Paytm ropes in Goldman Sachs, JP Morgan as bankers for upcoming IPO ⁠— there may be more along the way

Kritti Bhalla