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Grapevine: Delhivery to raise pre-IPO round; Govt to bundle airports in privatisation round
Photo Credit: VCCircle

Unicorn logistics startup Delhivery is in talks with multiple global investors including US-based Fidelity to raise a pre-IPO round at a valuation of around $3 billion, The Times of India said citing two people. 

It was valued at a little over $2 billion in a secondary investment round from Steadview Capital in December 2020, the sources added. 

The pre-IPO round may raise up to $150 million that would include a smaller secondary share sale, the report said. 

Also, the government has decided to bundle seven loss-making airports with six profit-making ones in the next airport privatisation round, people told The Economic Times. 

“Required approvals are in place and the bidding for these projects is likely to begin the next fiscal,” said a government official. 

According to the approved list, the profit-making airports include Trichy, Bhubaneswar, Indore, Raipur and Amritsar. These will be packaged with loss-making airports including Salem, Jharusuguda, Jabalpur, Jalgaon and Kangda. 

The airport in Varanasi, which is also Prime Minister Narendra Modi’s Lok Sabha constituency, will be clubbed with Kushinagar and Gaya with all three being possibly developed as part of a religious or Buddhist tourism circuit. 

A decision in this regard was taken at a meeting of the core group of secretaries for asset monetisation held last month, said the people cited above. 

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