The Delhi Income Tax Department has issued a penalty order of INR 1.32 crore to the logistics startup Delhivery. According to the company’s exchange filing, the Assessing Officer of Central Circle 18, Delhi, issued the penalty notice to it on June 28.
The ruling relates to specific expenses of INR 3.95 crore incurred by the corporation during the 2015–16 fiscal year, according to the exchange filing. The expenses were not disclosed by the corporation.
Delhivery has stated that it will challenge the order before the proper authority and refuse to pay the fine. It further stated that the order has no significant effect on the company’s financials or operations.
Delhivery Under a Strict Scanner of Tax Authorities
The Directorate General of GST Intelligence, Mumbai, sent Delhivery a show-cause notice earlier last month for INR 49.19 crore. The order dealt with a question of interpretation regarding tax rates.
Earlier in February 2025, the Directorate of Commercial Taxes of the Government of West Bengal ordered Delhivery to pay INR 5.35 crore in goods and services tax (GST).
A penalty of INR 53.57 lakh and interest on the overdue amount were also imposed by the order, which was issued on February 26 in accordance with Section 73 of the West Bengal Goods and Services Tax Act, 2017, and Section 20 of the Integrated Goods and Services Tax Act, 2017.
Delhivery’s regulatory filing states that the tax demand is the result of the Input Tax Credit (ITC) being denied for the fiscal year 2020–21.
According to the corporation, the disallowance is predicated on claims from dealers whose GSTINs were cancelled retroactively, claims from dealers who failed to file their GSTR-3B forms, and alleged short ITC reversals under Rule 42/43.
As a result of these conclusions, the tax authorities confirmed the demand for INR 5.35 crore along with an additional INR 53.57 lakh penalty.
CCI Greenlights Delhivery’s Acquisition of Ecom Express
Delhivery Limited’s purchase of a minimum of 99.44% equity and preference shares in Ecom Express Limited, on a fully diluted basis, was authorised by the CCI earlier this month.
In April, Delhivery announced that it had paid INR 1,407 crore to acquire the majority of Ecom Express.
The publicly traded logistics behemoth Delhivery has expanded into a full-stack business with supply chain management, warehousing, cross-border logistics, and express package and freight services.
Delhivery, which is well-known for its significant investments in automation and data-driven delivery intelligence, has integrated Ecom Express, a leader in logistics for e-commerce, in an effort to increase last-mile capabilities and consolidate market dominance.
Despite not being publicly listed, Ecom Express has established a strong foothold in India’s rapidly expanding e-commerce industry thanks to a network that is designed for returns, reverse logistics, and warehousing. One of the biggest integrated logistics systems in the nation is anticipated to be created by the acquisition.
Delhivery Ltd, a logistics services company, stated on 5 April that it would acquire Ecom Express Ltd. This acquisition deal will cost Delhivery around INR 1,400 crore in cash. The step is taken in order to expand operations of Delhivery. The business announced in a regulatory filing that it has finalised a deal to buy a majority share in Ecom Express Ltd. from its stockholders for about INR 1,400 crore in cash. With a purchase price of no more than INR 1,407 crore, the board of the company authorised the purchase of shares of Ecom Express Ltd that represented at least 99.4% of the issued and paid-up share capital, fully diluted.
The Deal Gets the Nod from Ecom’s Board
The board has given its approval for the company, Ecom Express, and its shareholders to execute a share purchase agreement as well as other required paperwork. It is anticipated that the transaction would be finalised in the upcoming six months. Ecom Express, a company situated in Gurugram, made INR 2,607.3 crore in the fiscal year 2023–24 compared to INR 2,548.1 crore the year before. Sahil Barua, MD and CEO of Delhivery, commented on the agreement, stating that the Indian economy needs ongoing advancements in logistics speed, reach, and cost-effectiveness. Delhivery is certain that this acquisition would allow it to better serve the clients of both businesses by making more daring investments in people, technology, networks, and infrastructure. He continued by saying that Ecom Express’s founders and management have built a solid network and team that will be easy to incorporate into Delhivery’s operations. Delhivery will be the perfect stakeholder for Ecom Express’s next stage of expansion, according to K. Satyanarayana, the company’s founder.
Waiting for CCI’s Approval
The Competition Commission of India’s clearance and the usual closing conditions must be met before the deal may be completed. Founded in August 2012, Ecom Express Ltd. offers comprehensive logistics solutions powered by technology. According to the company, this acquisition will increase Delhivery’s scale and fortify its value proposition to customers. According to a Delhivery official statement, the larger scale brought about by this acquisition should enable Delhivery to make more efficient investments in enhancing service quality through network expansion and network quality enhancements. Delhivery offers a broad range of logistics services, including supply chain, technology, cross-border, PTL, TL, and rapid parcel transportation, through its statewide network that spans more than 18,700 pin codes. According to the filing, Delhivery has completed more than 3.4 billion shipments since its founding and serves more than 39,000 clients, including SMEs, big and small e-commerce players, and other businesses and brands.
Sahil Barua is a visionary entrepreneur and business leader who has left a lasting mark on India’s logistics industry. He is the co-founder and CEO of the leading Indian logistics and supply chain company, Delhivery.
Sahil is also a keen angel investor and actively invests in startups. He has made investments in startups like Crest, The Souled Store, Nestasia, Sutradhar, BeepKart, and more.
Barua led the acquisition of its competitor, Ecom Express Limited, for INR 1,407 crore, according to reports as of April 2025. Delhivery has revolutionized logistics operations within the Indian e-commerce industry, transforming the way goods are delivered across the country.
In this article, let’s explore the success story of Sahil Barua, including his education, professional life, investments, and more.
Sahil Barua Biography
Name
Sahil Barua
Born
25 December 1984
Nationality
Indian
Education
National Institute of Technology, Karnataka; Indian Institute of Management, Bangalore
Entrepreneurs Talk With Delhivery CEO and Co-founder, Sahil Barua
Sahil Barua – Early Life and Education
Delhivery CEO Sahil Barua grew up in the city of Ahmedabad. Sahil has grown in an academic environment. His father was a professor at IIM Ahmedabad, and his mother was a doctor.
Sahil completed his formal education at St. Xavier’s High School. He pursued a Bachelor of Engineering in Mechanical Engineering (2002–2006) from the National Institute of Technology, Karnataka.
He then went for a post-graduation (2006–2008) at the Indian Institute of Management, Bangalore. He was also an all-around gold medalist on the Director’s Merit List at the institute.
Sahil Barua – Professional Life
Sahil started his professional journey with short-term internships. It was when he was still pursuing mechanical engineering. He went to the University of Maryland, US, in 2005 and worked as a research intern on electronics packaging at the CALCE Labs for about four months.
The internship helped him gain valuable knowledge and innumerable experiences of corporate life.
Sahil Barua worked as a summer associate at Bain & Company for around three months while pursuing his post-graduation. Later, after the completion of his post-graduation, he started working full-time for the company as a consultant. After one year, he got promoted to Senior Associate Consultant. He then focused on examining sectors like private equity, telecommunications, and healthcare.
After another year, he was again promoted as a consultantwith a defined portfolio, gearing up for more responsibilities.
Sahil Barua – Delhivery
Sahil Barua | Delhivery
Sahil co-founded his logistics firm, Delhivery with two of his Bain & Company associates, Suraj Saharan, and Mohit Tandon in 2011. They had similar mindsets and were encouraged enough to establish their logistics startup in India.
The three co-founders were in conversation with their friends at Zomato. Since Zomato’s business was an online business that needed the network to deliver the eatables to its users, they started working on the proposed idea and began the initial phase of Delhivery.
They established their first corporate office in Gurgaon with a total of 10 people, including four delivery people. After that, they started connecting with local restaurants and fulfilling their orders within half an hour. The model worked very well, and the business picked up instantly. No sooner did they start getting offers from various e-commerce sites as well, and the company flourished thereafter.
Delhivery is a popular courier service, logistics, and supply chain solutions company. The company offers its services in parcel transportation, warehouse, and truckload deliveries through different portals like Delivery Express, Delhivery Fulfillment, Delhivery Freight, and Delhivery Cross-Border.
In May 2022, Delhivery launched its Initial Public Offering (IPO), which was a major achievement. The company’s ability to expand its business and access new financial markets was made possible by the IPO.
According to financial reports, Delhivery’s operating revenue has grown steadily, increasing 5% to Rs 7,225 crore in FY23 from Rs 6,882 crore in FY22.
Over the years, Delhivery company has changed how supply chain and logistics solutions are perceived and executed in India. Sahil Barua’s strategic vision and leadership are sure to help Delhivery solidify its position as a key player in the industry.
In a significant development, Sahil Barua, the CEO of Delhivery, has been appointed as an independent director on Swiggy’s board. Along with Sahil, Swiggy has appointed two other independent directors: Mallika Srinivasan, a Padma Shri awardee and Chairman and Managing Director of TAFE, and Shailesh Haribhakti, Chairman of Shailesh Haribhakti & Associates.
With a deep sense of understanding of logistics and supply chain operations, Sahil Barua will help bring valuable insights and expertise to Swiggy’s board. This strategic appointment is sure to enhance Swiggy’s delivery network and operational efficiency as it continues to revolutionize the food delivery ecosystem in India.
Sahil Barua – Investments
Sahil has made eighteen investments. The details for the most recent investments are given below:
Sahil Barua has made investments in companies like Crest, The Souled Store, Vidyut, BeepKart, and more.
What is Sahil Barua education?
Sahil Barua holds a Bachelor of Engineering in Mechanical Engineering from the National Institute of Technology, Karnataka, and is a post-graduate from the Indian Institute of Management, Bangalore.
Who are in Sahil Barua family?
Sahil Barua was born and raised in India. His father, Samir Kumar Barua, served as a professor at IIM Ahmedabad, and his mother is a doctor.
Who is Sahil Barua wife?
Sahil Barua is unmarried as of April 2025.
Is Sahil Barua Assamese?
Barua is a common surname among the Assamese communities, who primarily follow Hinduism.
Who is Delhivery owner?
Sahil Barua is the Managing Director, CEO,, and the co-founder of Delhivery.
The growth of the e-commerce industry impacted the courier business. Due to more shopping in the eCommerce platform courier business is becoming one of the fastest-growing markets in India nowadays. Courier and delivery companies provide various services starting from the online courier and cargo marketplace and finishing with logistics. There aremany courier and delivery franchises in India. Courier services are distinguished from mail services by features such as speed, security, tracking, and specialization. They operate on all scales from within specific towns or cities to regional, national, and global services.
With a wide range of courier franchise options available in India, it can be challenging to choose the best one. In this blog, we will explore some of the best courier and delivery franchise business options in India that offer a lucrative opportunity for individuals interested in starting their own business. We will discuss all of the important aspects that can help you make an informed decision and take the first step toward a successful entrepreneurial journey.
DTDC empowers courier delivery services in India. Being one of the oldest and best courier services in the country established back in 1990, DTDC/DTDC Express Limited, or Desk to Desk Courier & Cargo, was founded by Subhasish Chakraborty headquartered in Mumbai, and handles over 12 million shipments every month. It has become a leading courier service provider, offering domestic and international courier services, e-commerce logistics solutions, and warehousing services.
The franchise model is designed to be easy to set up and operate, and DTDC provides extensive training and support to franchisees. Through its affordable franchise framework, DTDC met customers’ needs for access to technology, a place to store their goods, and expert advice. To become a DTDC franchisee, you need to have a minimum investment of around INR 2 to 3 lakhs, depending on the location and size of the franchise. The franchisee is also required to have a minimum space of 200 to 500 sq. ft, depending on the type of franchise. DTDC offers different types of franchise models, including master franchise, super franchise, and unit franchise, each with different investment requirements and benefits. It is the top e commerce delivery franchise in India.
Now, DTDC has more than 12,000 partners all over the country who are doing well. The franchisee’s field staff can get training at DTDC’s branch offices on a wide range of operational problems.
In case you are looking for a reputed courier service franchise, then DTDC is a great option!
Ship n’ Fly Open Market is India’s first-ever online courier and cargo marketplace which connects customers with customer-reviewed delivery companies. Established in 2014, the franchise aims to provide affordable and reliable courier services to customers across the country. Ship n’ Fly provides a transparent, collaborative, trustworthy environment and produces the best results for customers, colleagues, and partners. It has created an opportunity for aspiring entrepreneurs and businessmen to get associated with us in the form of a franchise. It is classified as a Non-govt company and is registered at RoC-Cuttack.
To become a Ship n’ Fly franchisee, you need to have a minimum investment of around INR 5 to 10 lakhs, depending on the location and size of the franchise. The franchisee is also required to have a minimum space of 300 to 500 sq. ft, depending on the type of franchise.
With its focus on eco-friendly courier services and the support of a strong franchise model, a Ship n’ Fly franchisee can enjoy a profitable business with a high potential for growth.
In 1999, InXpress was founded in Rochdale, a city in the UK. Originally, founder John Thompson managed the company out of his Rochdale bedroom. The company first joined the American market in 2006 and then expanded to Australia and New Zealand shortly after. There are 440 franchisees operating this courier service in 14 different countries, serving a total of 30,000 clients. InXpress is a global shipping franchise organization delivering great carrier solutions to small and medium-sized businesses for domestic and international companies. It is not a retail shipping franchise, rather it is a business-to-business franchise, which means that its primary customers are other businesses. The franchise offers discounted shipping rates and customized shipping solutions to its customers. InXpress shipping solutions are facilitated by industry-leading technology that allows you to build a flexible business with the support of a global franchise system.
To become an InXpress franchisee, you would need to meet certain requirements, such as having a minimum net worth and liquid capital, as well as passing a background check. InXpress provides training and ongoing support to its franchisees, including assistance with marketing and sales. It is a profitable courier company franchise.
As the industry leader in disruptive technology, InXpress gives its franchisees an advantage. InXpress can offer reasonable pricing thanks to its extensive network of reliable courier partners. This frees up the investors to focus on growing their business.
Top Courier Franchise in India – Day Xpress Courier and Cargo Services
Day Xpress Services Pvt Ltd. was founded in Mysore in 2015. The Day Xpress Courier and Cargo Services are one of the up-and-coming dispatch and load administrations of South India in the present market. It provides the best services of courier, parcel delivery, and bulk distribution delivering at a cheaper cost compared to other domestic courier and Cargo companies in Karnataka, India. This organization can offer cost-efficient, hassle-free, and prompt logistics solutions.
By offering franchises, Day Xpress Courier & Cargo Services encourages ambitious young people to launch their businesses. This courier franchise assists in the form of training, assistance with business setup, a manual outlining daily operations, and continuous business advice. Plus, the investor doesn’t have to worry about lacking the necessary abilities to run the franchise because the training they receive from the franchisor will take care of that.
Xpressbees was founded by Amitava Saha in September 2015 and has exhibited clear growth since then. Hailed as one of the fastest-growing courier franchise, delivery, and express logistics service providers, Xpressbees has witnessed close to 100% growth in revenue on a year-to-year basis. Xpressbees is headquartered in Mumbai and successfully delivers 50,000 shipments a day. XpressBees has a huge network that helps with more than 3 million packages going to more than 20,000 pin codes every year and is one of the top courier franchises in India. It is in the list of the top 10 courier franchise in India.
This courier franchise has a network of over 3,500 service centers, 150 hubs, and more than 28,000 committed Field Service Representatives. This makes it very easy to meet the wide range of evolving logistical needs of its valued customers.
Four engineers—Suraj Saharan, Mohit Tandon, Bhavesh Manglani, and Kapil Bharati—started Delhivery in 2011. It didn’t take long for Delhivery to become India’s top B2B, B2C, and C2C logistics company by offering low-cost storage, transportation, and eCommerce services.
Delhivery has become India’s leading supply chain services company that provides e-commerce fulfillment, express courier, and reverse logistics services. It is the backbone of the logistics industry. Delhivery vision is to become the operating system for eCommerce in India, through a combination of world-class infrastructure, logistics operations of the highest quality, and cutting-edge engineering and technology capabilities. Delhivery had switched completely to offering logistics services to several eCommerce companies. It is one of India’s largest B2B & B2C logistic courier service providers India.
Delhivery has two types of franchises: one is a delivery center, and the other is a transport booking center. One needs to spend INR 10 to 15 lakh on a transport center and have 300 to 400 square feet of land to run their business. On the other hand, one can start a mail booking center with just INR 2 to 3 lakh, and he/she can run his/her business out of a small 70- to 80-square-foot space.
Blue Dart was started by Clyde Cooper, Tushar Jani, and Khushroo Dubash with INR 30,000. Within a 200-square-foot area under a staircase, Blue Dart was created to send small packages and samples to help India’s exports grow. Blue Dart made connections with Gelco Fast International in the UK and started India’s first air package fast service between countries.
Blue Dart or Blue Dart Express, as it is popularly known, was founded in 1983 and is a subsidiary of DHL and DHL Express (Singapore) Pte Ltd. Blue Dart is an Indian logistics company, well-known for its courier and delivery services. They do offer franchise opportunities for their courier services in India. The exemplary delivery franchise also has a cargo airline subsidiary that goes by the name, Blue Dart Aviation.
The investment required for setting up a Blue Dart courier franchise in India depends on the location, whether it is a city, state, or rural area, and the size of the commercial setup. In 2 or 3-tier cities, the investment ranges between ₹2 lakhs and ₹5 lakhs. The real estate prices in different cities and states will also influence the commercial value of the premises, affecting the overall costs of setting up the franchise. Besides the premises, the franchise will require a necessary number of vehicles, usually two-wheelers, and an appropriate number of staff members to operate the business.
For investors, opening a Bluedart business in India could be a good idea because the company makes more than $700 million (₹52,01,02,45,000+) a year around the world. In addition to offering franchise business, this courier franchise teaches management skills, such as how to handle real-time bookings as well.
In 2013, Hanzala Nadaf established King Worldwide. A well-respected national brand, this courier franchise is well-known for its friendly service. King Worldwide is the largest domestic and international delivery network in India. It had been a pioneer in doing business through a franchise in the courier and cargo business. King Worldwide is a National brand and is known for its goodwill. King Worldwide gives assured profit and has the potential for continuous growth. It provides regular training for you and your employees for international products. Also, it offers multimodal services to easily deliver from a letter to bulk shipments.
Currently, around 400 King Worldwide stores can be found in India. The single-unit booking office model accounts for 75% of King Worldwide’s revenue, reaching 95% of the network, and fulfilling the dreams of middle-class people. King Worldwide’s MBO franchise is its most important unit, and it can be established in various ways. It functions as an autonomous unit within a city or district with one or more reporting franchises. To rephrase, it serves the same purpose as an expanded branch and is accountable for the expansion of the company in that area. King Worldwide is one of the fastest-growing franchises in India.
Shadowfax Technologies Limited is a Bengaluru-based crowdsourced delivery platform. Shadowfax was originally founded in 2015 as a last-mile food delivery business. Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya started Shadowfax, an app that helps businesses use technology to make customers happy by delivering food, medicines, and products purchased through online shopping. Shadowfax has emerged as a promising delivery franchise that operates in over 500 cities across India and offers a range of delivery services, including same-day, next-day, and express delivery. The company also offers technology solutions, such as a mobile app and API integration, to help streamline the delivery process.
As a franchisee of Shadowfax, individuals receive training and support from the company to help them set up and run their business. Franchisees are responsible for managing their own delivery personnel, vehicles, and operations, while also adhering to the company’s standards and guidelines.
Some of Shadowfax’s backers include Qualcomm Ventures, International Finance Corporation, Flipkart, NGP Capital, and Mirae Asset Global Investments. In addition to handling the distribution of online orders, making money, and supervising franchisees’ delivery partners, this e-commerce delivery franchise offers a training program and grants access to an HR portal. The franchisee must have a well-established network of reliable technology, including computers, printers, and delivery drivers.
Top Courier Franchise in India – Shree Venkateshwara Cargo Express
Shree Venkateshwara Cargo Express is India’s leading door-to-door express distribution specialist offers integrated express distribution and customized supply chain solutions to customers across diverse industries. Shree Venkateshwara Cargo Express introduces itself as a single solution provider for all the procurement and distribution needs of the industry. Shree Venkateshwara Cargo Express believes that logistics plays a crucial role in any industry. It gives more focus on the cost and efficiency of any industrial operation. It has seamless connectivity across air, rail, and road with the widest branch network has resulted in many opportunities for customers.
Franchisees are provided with training, guidance, and operational support from the company to help them establish and grow their businesses. They are responsible for managing their own delivery personnel, vehicles, and operations while adhering to the company’s standards and guidelines.
Top Courier Franchise in India – SpreadWings Courier & Cargo
SpreadWings Courier & Cargo is the sole company that offers an excellent platform for young entrepreneurs with minimal capital in hand and also strives for their training. SpreadWings Courier & Cargo is one of the leading companies that offers Courier, Cargo & International Shipments door to door to esteemed customers. It has proven itself as the sole courier cargo service provider in India and abroad. It’s a mission to be the world-class technology-driven and customer-focused market leader in courier and logistics. SpreadWings Courier & Cargo fulfills the needs of time-critical or permanent recurring services.
Located in Mumbai, Pick Me Express came into being in 2015. Pick Me Express relies on its daily delivery of time-sensitive consignments and parcels. The success of Pick Me Express is the skills and common goals that every member of their team shares. It has many years of experience in the logistics industry at the senior level, in operations, key account management, sales, and business development. This franchise is dedicated to providing every customer with exceptional service.
Many senior-level employees of this courier franchise have worked in the logistics industry for many years, and the company itself has a lengthy history of success. Pick Me Express franchise is an excellent opportunity for entry-level business ownership, regardless of whether one has prior business experience or not. Individuals with a strong focus on customer service would be an ideal fit for the Pick Me Express Franchisee role. Franchisees collect and deliver packages within their designated zones. Pick Me Express is one of the low-cost franchises in India.
As a Pick Me Express franchisee, individuals can operate within an exclusive territory, collecting and delivering parcels in their designated area. This provides a great opportunity for aspiring entrepreneurs who want to establish a courier and logistics business with the support and guidance of an established brand.
P. Santhamurthy of Coimbatore founded Elbex Couriers Private Limited in 2012. Across the Indian states of Tamil Nadu, Maharashtra, Karnataka, Kerala, Delhi, Rajasthan, Uttarakhand, Gujarat, Uttar Pradesh, and Andhra Pradesh, this courier franchise has expanded rapidly, and it now operates with 30 own branches and 300+ franchisee outlets. Elbex Couriers Private Limited (ELBEX) is India’s fastest-growing brand in the courier & logistics world.
ELBEX offers multiple franchise opportunities :
Regional Franchise (State-wise operations)
Area Franchise (Region wise comprising 4/5 districts)
Super Franchise (District Wise)
Unit Franchise (Pin code / Taluk wise)
It is based on the investment and working capacity of the business aspirants. It serves customers with various service products to meet customer logistics requirements. The company also has tied up with all major international service providers to ensure cost-effective, time-bound services to all parts of the world.
In addition to its focus on customer service, Elbex Couriers offers its thousands of young, ambitious entrepreneurs and job-seekers in India excellent business and career prospects to become service associates. By becoming a Master Franchisee, Super Franchisee, or Unit Franchisee, the channel partners are granted the opportunity to operate inside a specific territory. At the franchisee level, the two mainstays of branch operations are pick-ups and deliveries, which are handled sequentially.
Top Courier Franchise in India – Super Fast Logistics Pvt. Ltd.
Super Fast Logistics Pvt. Ltd. is an expert in logistics services. It not only provides domestic and international mail services but also specialized value-added services like Customized Logistics Solutions (CLS) including warehousing, letter shopping, and fulfillment, variable data printing, as well as integrated business solutions, including mailroom management solutions, digitization, archiving services. Super Fast Logistics courier has in its workforce, highly experienced and professional personnel, having the highest level of commitment and who believe in personalized service to their customers.
With e-commerce shopping being at an all-time high with no signs of stopping, it is wise to look into a courier service franchise soon. We hope this list gives you an idea about where to start!
Vinoth Poovalingam started Flipkart’s outbound shipping company under the brand name eKart and it has changed the game. Ekart is run by Instakart Services Pvt. Ltd. Ekart was founded in 2009 and was taken over by Flipkart from WS Retail Services. The company is as trusted as Flipkart itself when it comes to its courier service franchise. Ekart boasts of delivering around 10 million shipments per month and most of their orders, around 85%, come from Flipkart.
Ekart has helped Flipkart grow by coming up with new services like cash-on-delivery, in-a-day guarantee (50 cities), and same-day guarantee (13 cities). With its new ideas for better delivery services for Flipkart users, this eCommerce courier franchise has recently teamed up with Tata CliQ and Voonik to meet the growing needs of couriers and build trust among customers. With the help of inventory management software, tracking orders has become easier and faster, thanks to advanced technology offered by eKart making it one of the top 10 courier services in India.
Top Courier Franchise in India – The Professional Couriers
The Professional Couriers has been serving as a courier service franchise since November 1, 1987, when the company was incorporated. Large-scale courier service hardly really existed till then when TPC came into being. Headquartered in Mumbai, TPC opened its first International Subsidiary Company – M/s The Professional International Couriers Pvt. Ltd back in 1999, thereby opening their International Operations Hub in all metro cities. The company further expanded with new entities like The Professional Couriers USA Inc., New York/USA, Professional Couriers LLC., Dubai/UAE, Professional Couriers Pte Ltd., Singapore in 2009.
Top Courier Franchise in India – MAX Courier Franchise
MAX courier franchise is a delivery franchise that deals with Ecommerce delivery franchise, document delivery, parcel delivery, and more. Boasting more than 750 branches across India, Max Courier started its operations in 2014 and eventually started its franchise 3 years later in 2017. It is an investible courier business franchise.
Top Courier Franchise in India – Overnite Express Ltd
Overnite Express Ltd, simply called Overnite Express, is a courier franchise in India, headquartered in New Delhi. Overnite Express has been associated with transport, cargo, and other courier services across the country and is currently known as a major player in the same space. The company claims to deliver 1.5 lakhs+ parcels each day and reaches out to over 1,100 cities with its 3,000+ branches distributed all over the country.
Gojavas is a Gurgaon-based logistics and supply-chain startup founded in 2013. According to the vision of Gojavas, the company aims to emerge as an industry leader and provide trustworthy, time-bound logistics and supply-chain solutions to all of its business partners. The company strongly believes in its motto, “delivering a million smiles” and is onwards to cement its presence in the fast-paced e-commerce industry as a delivery franchise.
In 2016, Rahul Chutani established Last Mile Xpress in the Delhi NCR area.It is an Indian courier franchise that takes care of the courier and delivery requirements of individuals from across the country. Last Mile Xpress also boasts professional pick-up and delivery services, which it extends to B2B and B2C customers. Their services range from bike-based to Eeco car/Tata Ace-based pick and delivery requirements.
The courier franchise gives investors the chance to join its network of franchises. With minimal outlay of capital and collateral. Last Mile Xpress is currently serving the National Capital Region (NCR), which includes cities such as Delhi, Faridabad, Gurgaon, Noida, Ghaziabad, Ballabgarh, Palwal, Kolkata and Bhubaneswar. Investors can monitor the outlet’s financial performance thanks to Last Mile Xpress’ strong technological structure.
Top Courier Franchise in India – Nonstop Courier and Cargo
Based in Chennai, Nonstop Courier and Cargo is designed to operate as a courier delivery franchise to ease the fulfillment of the pick-up and delivery requirements of customers from all around India. Nonstop Courier and Cargo takes utmost responsibility to professionally handle the pick-up and delivery orders coming from their customers without any delay.
Just Delivery is a logistics company recognized for its transportation, packers, and movers, loading, unloading, car transportation, and other services, which it offers to its customers from all around the country. The company claims to have customers from 2000+ companies that they work with in addition to other individuals who approach the company and it is considered as a profitable courier agency franchise.
DHL was started in 1969 in San Francisco by Adrian Dalsey, Larry Hillblom, and Robert Lynn. Across more than 220 countries and territories, 600,000 individuals work daily for this courier company, assisting customers in crossing borders, expanding into new markets, and boosting their business. With an investment range of around INR 2 to 5 lakhs, owning a DHL franchise is a promising business. A minimum of 250 to 300 square feet of space, whether owned or rented, is required to secure a DHL franchise in the desired location. But DHL also charges a franchise fee, which could be seen as a condition to open a franchise. DHL is one of the top franchises in India.
Ecom Delivery Limited is a top logistics company in India, providing end-to-end delivery solutions for retail and e-commerce businesses. It is based in Navi Mumbai, Maharashtra, and was founded in 2014 by Vanket Saye, Shivaram Singh, and K Uttam Jana, who have years of experience in logistics and distribution. The company serves e-commerce platforms, D2C brands, and both small and large online sellers.
With 12 offices, 150+ employees, and 30 channel partners, Ecom Delivery Logistics delivers for over 25,000 businesses and individuals.
Using advanced technology and automated systems, the company offers logistics services across 29 states and 6 union territories. It operates in 1100+ cities and towns, covering 18,600+ pin codes in India. Its main service, Ecom Delivery Logistics Services, includes first-mile pickup, processing, network operations, last-mile delivery, and handling returns.
Valmo is a trusted logistics provider in India, known for its transparency, affordability, and efficiency. It offers the lowest market prices, real-time tracking, timely deliveries, and 24/7 customer support. With nationwide coverage, Valmo ensures seamless shipping from cities to remote areas. Businesses seeking cost-effective and high-quality logistics solutions can rely on Valmo for a hassle-free experience. Getting a Valmo courier franchise is a profitable courier franchise business in India.
Conclusion
Courier and delivery services play a crucial role in today’s fast-paced world, providing efficient and timely transportation of goods and documents. The courier and delivery industry in India is growing rapidly, and there are many franchise opportunities available for individuals who want to start their own courier business.
By choosing the right courier franchise business, individuals can start their entrepreneurial journey with the support and resources of an established brand while also contributing to the growth and development of India’s logistics and transportation industry.
There is a high desire for these courier franchises to expand their reach since the market for courier services in India is predicted to increase by triple figures. While this market segment was previously very disorganized in India’s smaller towns and cities, things have changed thanks to the entry of several low-budget franchises, that have provided excellent opportunities for young entrepreneurs hailing from these areas to build successful brands.
FAQs
Which is the best courier franchise in India?
The top courier franchises in India are:
Ship n’ Fly
InXpress
DTDC
Delhivery
King Worldwide
Shadowfax
SpreadWings Courier & Cargo
Pick Me Express
Elbex Courier
Super Fast Logistics
What are the benefits of owning a courier franchise business in India?
Owning a courier and delivery franchise business in India provides numerous benefits, such as having access to an established brand name and systems, comprehensive training and support, and the opportunity to tap into a growing industry.
Is a courier business profitable?
Definitely! If done correctly, courier services will turn profitable in no time.
Is it expensive to start a courier franchise in India?
The cost of starting a courier and delivery franchise business in India varies depending on the franchise company, the size of the territory, and the type of services offered. Typically, the initial investment required ranges from a few lakhs to several crores of Indian Rupees.
What services do courier franchise businesses in India typically offer?
Courier franchise businesses in India typically offer a range of services, including same-day, next-day, and express delivery, logistics and supply chain solutions, and technology solutions such as mobile apps and online tracking.
When was DTDC founded?
DTDC was founded in 1990 and is headquartered in Bengaluru.
Which are the best courier services from India to USA?
Some of the best courier services from India to the USA include:
Shiprocket
FedEx
DHL
Aramex
Ecom
India Post
DTDC
How to apply for a courier franchise in India?
To apply for a courier franchise in India, you should research courier and delivery franchise businesses in India and contact the franchisor of the courier company you are interested in. Discuss the franchise opportunity and complete the franchisor’s application form along with any required documentation or fees. The franchisor will review your application and contact you to discuss next steps. If approved, you will sign a franchise agreement and receive training and support to establish and operate your courier franchise business.
Is there any courier franchise without investment?
Finding a courier franchise with zero investment is rare, but ePostBook offers a unique opportunity with no franchise registration fees, allowing you to earn by providing shipping services.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
Logistics has always been an important sector for any country, including India, but the space had never seen such a ground-breaking turn before Delhivery came into being.Proving itself since 2011 as a great startup, this company is now a backbone for the logistics industry.
Delhivery is currently one of the leading players in the logistics space in the country.It offers a full suite of services such as last-mile delivery, third-party and transit warehousing, reverse logistics, payment collection, vendor-to-warehouse, vendor-to-customer shipping, and more.
Delhivery became a unicorn in 2019 when it raised $413 million in a Series F round led by SoftBank Vision Fund, Carlyle Group, and Fosun International. It was then valued at$1.5 billion. Delhivery was last been valued at $4.77 billion in May 2022.
Read this article to learn about Delhivery’s Startup story, Founders, Business Model, how it started, Growth, Competitors, Funding, and Investors.
Delhivery Company Details
Startup Name
Delhivery
Headquarters
Gurgaon, India
Sector
Logistics
Founders
Kapil Bharati, Sahil Barua, Suraj Saharan, Mohit Tandon (Exited March 29, 2021), and Bhavesh Manglani (Exited March 29, 2021)
Delhivery is a prominent courier services, logistics, and supply chain solutions company that enthusiastically works with individuals and businesses. Founded back in May 2011, Delhivery is headquartered in Gurugram, Haryana, India,and provides a range of services, including last-mile delivery, third-party and transit warehousing, reverse logistics, payment collection, vendor-to-warehouse, vendor-to-customer shipping, and more.
The company is backed by Times Internet Ltd, which acquired a minority stake in the firm in June last year.
Having three responsibilities on its shoulders – fulfillment, omnichannel, and data services, the company’s focus is to deliver the best service without any waste of chances in solving the customers’ problems.
It provides the products and services intended to build trust and improve the lives of consumers, small businesses, enterprises, and their growing teams of employees and partners. Delhivery is disrupting India’s logistics industry with the help of its proprietary network design, infrastructure, partnerships, engineering, and technological capabilities.
Delhivery brings unparalleled cost efficiency and pan-India reach to its 10,000+ customers. Driven by its mission to shrink time and distance, Delhivery aims to make the world a smaller place for its customers. Powered by an effective and streamlined Delhivery business plan, the company is emerging as one of the leading players in the supply chain and logistics space, so much so that it can be referred to as one of such courier and logistics startups that have paved a new path for the delivery of products. Besides, Delhiveryis driven by a constant focus on its customers and serving them with quality products, thereby building confidence and trust for the brand.
Delhivery – Industry
The country’s logistics industry, which is worth around $160 billion is likely to grow by an expected CAGR of 10% and touch $215 billion in the next two years with the implementation of GST. However, most of the industry was largely torn into unorganized players where the arrival of Delhivery can be simply termed as a phenomenon that has completely changed the industry and the way it works.
Here comes the biggest reach of Delhivery where they have over 1400 serviceable pin codes on their list and 19,990+ sq ft of warehouse space in Delhi as well as in Bangalore. Delhivery has a lot of partners with whom it aims to increase the product reach and to cope with those partners, the company also offers third-party warehousing and transit warehousing.
Along with numerous e-commerce brands like Flipkart, Amazon, eBay, Snapdeal, Jabong, and Healthkart, customers, Delhivery company also manages its customer base that comprises many other businesses and individuals.
Delhivery – Founders and Team
Delhivery was started by a bunch of engineers – Bhavesh Manglani, Kapil Bharati, Mohit Tandon, Sahil Barua, and Suraj Saharan.
Delhivery Founders
Sahil Barua
Another Bain & Company consultant Sahil Barua was a BE Mechanical Engineering student at NIT Karnataka. Sahil Barua, who currently serves as the Co-founder and CEO of Delhivery, completed his graduation and then went on to pursue a PGDM course at IIM Bangalore. Sahil finally decided to co-found Delhivery together with the other founders.
Kapil Bharati
Kapil Bharati is the Co-founder and CTO at Delhivery. He is an alumnus of IIT Delhi, from where he completed his Btech degree in Mechanical Engineering. Bharati served as the Technical Lead at Hindustan Times for livemint.com and the HT blogs and then joined SapientNitro as a Senior Manager of technology. Bharati had earlier co-founded two other companies – 11Rupees and Contify.com, before co-founding Delhivery.
Bhavesh Manglani
Bhavesh Manglani was another Co-founder of Delhivery, who left the company on March 29, 2021. Manglani was a PGDCM/MBA, Systems, Finance student at IIM Calcutta, which he completed after obtaining his BTech in Information and Communication Technology. Bhavesh has had earlier experience working as a Manager – Usage and Revenue Enhancement, Prepaid Mobile, All India, and as a Product Manager at Reliance Communications and Idea Cellular Ltd. before he co-founded Delhivery.
Mohit Tandon
Mohit Tandon is an IIT Kanpur alumnus and eventually joined Bain & Company after completing his graduation, where he served as a Consultant for around 5 years before co-founding Delhivery. Tandon had been a Co-founder of Delhivery, before he left the company on March 29, 2021.
Suraj Saharan
Suraj Saharan was also an ex-Bain & Company consultant, who started with ICICI Lombard as a Customer Service Manager and eventually co-founded Delhivery. Saharan is an IIT Bombay alumnus, from where he obtained a BTech degree in Mechanical Engineering. Saharan is also a co-founder of the company.
To increase the quality of the products delivered by Delhivery, Suvayu Ali (Data Scientist at Delhivery) kept a special check on the market of these technical matters with an algorithm, which is one of the projects that a team of data scientists at Delhivery, led by former entrepreneur and Facebook’s data scientist Santanu Bhattacharya, is working on.
Delhivery added Namita Thapar (ED, Emcure Pharmaceuticals) and Sameer Mehta (CEO, boAt) to its board. The company said that the appointment of the two will come into effect from February 17, 2025. The company also appointed ex-Airtel Global CEO Vani Venkatesh as CBO, effective February 28, 2025.
Delhivery currently boasts of a team that is 66000+ employees strong.
Delhivery – Startup Story
It was approximately half-past eleven at night when Suraj and Sahil ordered food from a nearby restaurant in Gurgaon. When they had the delivery man standing in front of their door, they got chatty with the delivery person, who spoke of the problem of unemployment that was about to break out. This made the founders rush down to the store and talk to the manager. Soon they were at the restaurant, talking to the owner, who further elaborated on his plans of closing down the business and moving his staff elsewhere. Here’s where Sahil and Suraj decided to start their delivery business, Delhivery. Yes, they hired all of them!
Sahil narrated the exact conversation between him and the owner of the restaurant – “It was 11.30 at night, I still remember, we took our bikes and went to meet the owner, Anuj Bajaj, who was surprisingly still there. He said he was shutting the restaurant down. He was really happy we had come because he wanted his staff to relocate somewhere. We said bring it on, we’ll hire everybody.”
Delhivery – Name, Tagline, and Logo
Delhivery – Logo
Delhivery has stuck with a simple but eye-catching logo where the name of the brand is displayed in black.
Delhivery tagline – ‘Small World‘, Delhivery is changing the logistics market making the world smaller with its new strategy of delivering fast.
Delhivery – Mission and Vision
Delhivery’s mission is to simplify the movement of goods. It aims to change the world, one shipment at a time.
The vision of the company is to “become the operating system for commerce in India, through a combination of world-class infrastructure, logistics operations of the highest quality and cutting-edge engineering and technology capabilities.”
Delhivery – Business Model and Revenue Model
Delhivery has currently been hailed as India’s leading supply chain services company. It is one of India’s largest B2B, B2C, and C2C Logistics Courier Service providers. The company is best known for the economical shipping rates that it charges for its services. Furthermore, Delhivery company claims to have – No Setup Fees or Subscription Charges!
The services offered by Delhivery can be divided into 3 primary departments:
Warehousing – Flexible warehousing across 40+ cities in India
Transportation – Largest pan-India reach across 19000+ pin codes and 2500+ cities
Ecommerce – Ready integration with Shopify, WooCommerce, Magento & Opencart.
Delhivery – Growth and Revenue
Founded in Gurgaon, Delhivery was initially a small business with only 5 members in total for all their work, from accounts to product service to delivery hookups. However, within a short period, the company hired more than 15,000 people across a range of departments including deliverymen, account keepers, and many others, some of whom were solely dedicated to looking after customer satisfaction and managing deliveries along with providing extensive help and support with the customer issues.
Delhivery Growth Statistics
The growth of Delhivery has been documented until the year 2024 are as follows:
Since its inception, the company has successfully shipped a remarkable 2.8 billion parcels as of September 2024.
A total of more than 18,700 pin codes are served.
It has covered 18 million+ square feet of logistics.
A total of over 26,500 businesses have been served.
The company boasts of a collection of 85+ packing warehouses in total across the country
It has around 29 automated sort centres
Delhivery has around 160 hubs
7,500+ partner centres
Furthermore, Delhivery claims to possess a capacity to process more than 15 lakh (around 1.5 million) parcels per day in India across 2,300 towns and cities.
All of these are possible mainly because of its network of nearly 7,000 drivers and over 5,000 trucks. Delhivery is also building some of the country’s largest trucking terminals at key locations in Delhi, Mumbai, Bangalore, Hyderabad, Kolkata, and Chennai.
The company culture aims at making every individual experience working in the trenches as a delivery boy, for at least twelve hours a week, to promote teamwork and efficiency among the employees.
In an interview, Sahil Barua quoted some wonderful lines for his employees “After every 20 minutes I get up and go talk to a team member. Thanks to this, I know everyone in our office by their first name. We have that kind of openness in the office where people can tell us what they think. That is what keeps us going”.
The Rise and Fall of the Delhivery Shares
Delhivery shares rose by 6.34% on June 2, 2022, which closed at INR 570. It reached INR 617.70 during this season, which was an all-time high intraday. This was reset again when Delhivery shares reached INR 683.35 on July 20, 2022. Among the new-age tech stocks, it was only Nykaa‘s shares, which rose by 1.05% to INR 1470.95. All the other stocks of Policy Bazaar, PB Fintech, Paytm, and Zomato fell recently, as reported on June 3, 2022. Delhivery shares continued to hold its winning streak for the third season straight. The shares of Delhivery ended 6% and 4% higher on consecutive days to end at INR 699.95 on the BSE as per July 21, 2022 reports. With this, the market capitalization of Delhivery crossed the INR 50,000 crore mark, which helped Delhivery be clubbed together in the house of the top 100 Indian companies with the highest market capitalization.
Delhivery has launched something big called ‘Company One.’ It’s a super modern digital shipping platform made to help small businesses. This cool invention puts together lots of shipping services. It’s not just about talking to customers after they buy things and using smart data, but also about easily sending things to other countries, quickly connecting to different places where they sell stuff, and handling reports about things that couldn’t be delivered. All of this brings a totally new and really smart way of shipping and delivering things for these small businesses.
This new system will enable small businesses to ship their products without needing to meet a minimum order requirement. They can start shipping by adding a minimum of INR 500 to their wallet. With Delhivery One, small businesses can now ship their products to more than 220 countries. This is made possible through Delhivery’s partnership with FedEx, a well-known logistics company. Delhivery is also working on making the digital platform even better. They are planning to add new features like connecting to various online marketplaces and creating a mobile app called “Delhivery One“,
Delhivery – Financials
Delhivery has shown consistent growth in revenue over the past few years. However, the company has faced losses during this period, with expenses rising and net losses narrowing down in the most recent financial year (FY24).
Delhivery Financials
FY24
FY23
FY22
FY21
FY20
Total Revenue
INR 8594.2crore
INR 7530.2 crore
INR 7038.4 crore
INR 3838.3 crore
INR 2988.6 crore
Total Expenses
INR 8825 crore
INR 8597 crore
INR 8064.5 crore
INR 4212.7 crore
INR 3257.4 crore
Profit/Loss
INR -249.2 crore
INR -1007.8 crore
INR -1011 crore
INR -415.7 crore
INR -268.9 crore
Delhivery Financials 2024
Delhivery’s revenue has steadily increased from INR 2,988.6 crore in FY20 to INR 8,594.2 crore in FY24. Despite revenue growth, the company continues to incur losses, though the losses narrowed from INR 1,011 crore in FY22 to INR 249.2 crore in FY24.
Delhivery Revenue Breakdown
Particulars
FY24
FY23
Revenue from Product/Service Sales
INR 8,141.5 crore
INR 7,225.3 crore
Other Income
INR 452.7 crore
INR 304.9 crore
Revenue from product/service sales in FY24 showed a significant rise, reaching INR 8,141.5 crore compared to INR 7,225.3 crore in FY23. Other income also increased, moving from INR 304.9 crore in FY23 to INR 452.7 crore in FY24.
Delhivery Expense Breakdown
Particulars
FY24
FY23
Freight, Handling & Servicing Costs
INR 5,970.7 crore
INR 5,669.5 crore
Employee Benefits Expense
INR 1,436.8 crore
INR 1,400 crore
Finance Costs
INR 88.5 crore
INR 88.8 crore
Amortization & Depreciation
INR 721.5 crore
INR 831.1 crore
Other Expenses
INR 607.4 crore
INR 605.8 crore
Delhivery’s expenses have been fairly stable from FY23 to FY24, with freight and handling costs rising slightly from INR 5,669.5 Cr to INR 5,970.7 Cr. Amortization & depreciation costs decreased from INR 831.1 Cr to INR 721.5 Cr, contributing to some cost control.
Delhivery Profit/Loss
Particulars
FY24
FY23
Gross Profit
– INR 249.2 crore
– INR 1,007.8 crore
Operating Profit
– INR 244.4 crore
– INR 1,053.1 crore
Net Profit/(Loss)
– INR 249.2 crore
– INR 1,007.8 crore
Despite revenue growth, Delhivery has yet to achieve profitability. The company’s losses decreased from INR 1,007.8 crore in FY23 to INR 249.2 crore in FY24, reflecting improvements in cost management and revenue generation.
Quick Summary
Revenue Growth: Increased from INR 2,988.6 Cr (FY20) to INR 8,594.2 Cr (FY24), driven by a rise in service sales.
Loss Reduction: Losses narrowed from INR 1,011 Cr in FY22 to INR 249.2 Cr in FY24.
Stable Expenses: Slight rise in freight and handling costs with a decrease in amortization and depreciation.
Profitability still a Challenge: Despite improvements, the company remains in the red for the past five years.
Delhivery – Funding and Investors
Delhivery has raised a total of $1.69B in funding over 15 rounds. The company raised a funding round worth $303.73 million (INR 2347 crore) led by 64 anchor investors including Stead View, Tiger Global, Bay Capital, and more, before its IPO on May 11, 2022. As per the company filings, Delhivery allotted 48 million shares to the anchor investors at INR 487 each.
The previous round of the company came in on September 24, 2021, led by Addition. This has helped it raise around $125 million. The company also witnessed funds equal to INR 558 crore ($76.34 million) in the previous round dated September 6, 2021. The Series I round of funding was also led by Lee Fixel’s Addition LLC. Delhivery is currently valued at $4.77 billion, as of May 2022.
Here is a list of all the funding rounds of Delhivery:
Date
Stage
Amount
Investors
May 11,2022
Pre-IPO
$303.73 million
Tiger Global Bay
September 24,2021
–
$125 million
Lee Fixel’s Addition LLC
September 6,2021
Series I
$76.34 million
Lee Fixel’s Addition LLC
July 16, 2021
–
$100 million
FedEx Express
May 30, 2021
Series H
$277 million
Fidelity Investments
December 15, 2020
Secondary Market
$25 million
Steadview capital
September 9,2019
Secondary Market
$115 million
Canada Pension Plan Investment Board
June 17, 2019
Secondary Market
$150 million
Canada Pension Plan Investment Board
March 24, 2019
Series F
$413 million
SoftBank Vision Fund, Carlyle Group
May 22, 2017
Series E
$30 million
Fosun International
March 23, 2017
Series E
$100 million
Carlyle Group, Tiger Global
May 6, 2015
Series D
$85 million
Tiger Global Management
September 8, 2014
Series C
$35 million
Multiple Alternate Asset Management
September 30, 2013
Series B
$5 million
Nexus Venture Partners
April 2012
Series A
$1.5 million
Times Internet Limited
The logistics giant has allotted 146,961 Series I Compulsory Convertible Preference shares (CCPS) to Addition LLC valued at Rs 37, 900 per share, according to the MCA filings of the brand as of September 6, 2021.
Delhivery – Shareholding
Delhivery’s shareholding pattern as of April 2022, sourced from Tracxn:
Delhivery Shareholders
Percentage
Sahil Barua
1.9%
Mohit Tandon
1.6%
Suraj Saharan
1.6%
Kapil Bharati
1.0%
Bhavesh Manglani
0.3%
SoftBank
19.6%
The Carlyle Group
9.1%
Nexus Venture Partners
9.2%
CPP Investments
6.1%
Tiger Global Management
5.3%
Brand Capital
5.6%
Fosun
3.1%
Alpine Capital
3.4%
GIC
2.1%
Addition
2.4%
Steadview
2.7%
Chimera
1.4%
Fidelity Investments
3.5%
Baillie Gifford
0.7%
Ab Initio Capital
0.3%
RPS Ventures
0.5%
Avendus
< 0.1%
Malabar Investments
< 0.1%
Multiples Alternate Asset Management
–
FedEx
2.9%
Angel
< 0.1%
Other People
1.4%
ESOP Pool
11.0%
Other Investors
3.2%
Total
100.0%
Delhivery Shareholding
Delhivery – IPO
Delhivery eyed an IPO round of around $1 billion and filed its Draft Red Herring Prospectus on October 7, 2021. The company had already received approval from its shareholders to turn into a public entity by then, and soon afterward, it was converted from Delhivery Private Limited to Delhivery Limited. Delhivery, which earlier anticipated raising a total of INR 7460 crore in its IPO, had reduced its IPO size to INR 5500 crore, which was 26.27% less than what the company proposed earlier. On a sitting with the Board of Delhivery, the company decided to open its IPO after the closure of the LIC IPO, the subscription window of which is closing on May 9th, 2022. The valuation that Delhivery targeted with its IPO was mentioned somewhere around $5 billion as per the reports dated May 5, 2022.
Delhivery opened its IPO on May 11th, 2022, which opened to a customary start where the total subscriptions hovered at 4%. While the retail subscription was subscribed to 23%, the employee share quota was at 4% subscriptions after 2 hours of the Delhivery listing. What can be called a lukewarm start, the Delhivery IPO seemed to lack market liquidity, coming just after LIC’s mega IPO round, which closed on May 9, 2022. Morgan Stanley, Citigroup, BofA Securities, and Kotak Mahindra Capital were some of the book-running lead managers to the Delhivery IPO. Delhivery witnessed a tepid response on its first day of IPO with 21% overall subscriptions. At the close of the day, the retail portion was subscribed 30% while the portion of the Qualified Institutional Investors (QII) followed in with around 29% subscriptions. The employee’s quota of Delhivery was subscribed to around 6% while that of the Non-Institutional Buyers (NIB) remained subscribed at 1% only.
The Delhivery shares were listed at INR 493 per share, which was 1.2% higher than their issue price, INR 487, on the BSE, whereas on the NSE, the Delhivery shares were listed at 1.7% higher than the issue price, at INR 495.2. However, the shares continued gaining on a listing day to stand at INR 537.25, which is 9% higher at the closing on the BSE, and stood 10.1% higher at INR 536.25 on the NSE. The Delhivery stocks were listed on May 24, 2022, on the BSE and NSE, and the very next, it was found that the shares by 4.73% to INR 511 on the NSE. The valuation of Delhivery, which was previously valued at INR 35,283 crore ($4.55 billion) before its IPO, stood at INR 37,022 crore ($4.77 billion) at the end of the listing day.
With the listing of its shares on May 24, 2022, Delhivery turned out as the first tech startup to go public in the season where negative sentiment was dominating the public listing. However, the Delhivery IPO turned out to be a money-making event for its big investors. Softbank, which entered the cap table of Delhivery in 2019, had 14,15,93,300 shares, out of which the Japanese company sold 7,494,867 equity shares or 5% stakes and received over 148% ROI. On the other hand, Times Internet, which was one of the early backers of the company, held 4.92% stakes in the firm and sold shares worth $21 million in the Delhivery IPO, thereby gaining 139X returns.
Delhivery – ESOPs
The company initially decided to expand its employee stock option plans (ESOP) pool that will be overlooking its $1 Bn-IPO, when it allotted 11,614 shares valued at $126.6K to its employees in 2019. The IPO value was later reduced to ($677.81 mn) Rs 5235 crore. It then allotted 9,545 shares (Rs 2,895 each) valued at Rs 2.84 cr to 12 of its employees. This was decided via an extraordinary general meeting (EGM) on September 29, 2021.
Delhivery announced the allotment of ESOPs worth Rs 43.6 crore to around 66 employees as soon as it filed its DRHP for its first IPO, as per November 2021 reports. According to the company filings, Delhivery declared the allotment of 12,17,500 equity shares to over more than 5 dozen employees on the exercise of their stock options.
Delhivery presented 9 items that included ESOP 2012, Delhivery ESOP II 2020, Delhivery ESOP III 2020, Delhivery ESOP IV 2021, Article of Associations, and other allied schemes for voting in front of its stakeholders. Interestingly, the institutional shareholders (72% of them) have largely voted against these ESOP schemes, as per reports dated July 18, 2022. However, the ESOP schemes were still passed with the votes of the non-public institutions and promoters in the company meeting. The presentation of the ESOP schemes of Delhivery was in line with the SEBI policy, which does not allow listed companies to make any fresh grant related to the transferring of shares to their employees if the Pre-IPO ESOP schemes are not approved by the shareholders.
Delhivery – Partnerships
Delhivery partnered with many organizations thus far. Among its prominent partnerships include its collaboration with Volvo in August 2020 with an aim to add tractor-trailers into its express network.
“This is the first major deployment of tractor-trailers in express trucking which is a significant step for Delhivery towards getting ready for the future and towards expanding our network and building our leadership position in this market further,” said Sahil Barua, Co-Founder of Delhivery.
The company has also partnered with FedEx Express for a strategic alliance transaction, which was earlier signed in July and completed on December 9, 2021. This transaction is deemed to combine the extensive pan-India network and technology solutions of Delhivery with the global network that FedEx boasts of. This will help the customers get the best of both worlds together.
Delhivery – Competitors
As Delhivery is a logistics company, and obviously, Delhivery thrives amidst huge market competition from some of the companies like:
It is because of the competition in the market that customers get different choices, and all of them more or less closely match each other when it comes to quality.
The company has acquired 3 startups as of December 8, 2021. The latest acquisition came in on December 8, 2021, when Delhivery acquired Transition Robotics, a California-based startup that is currently focussing on the development of the Unmanned Aerial Systems (UAS) platforms, founded by Jeff Gibboney in 2011. This will allow the supply chain services unicorn to be directly involved with the core drone technology, the “regulations and use cases” of which, “are evolving in the country”, CTO Kapil Bharati said.
Acquiree Name
Date
Price
Transition Robotics
December 8, 2021
–
Spoton Logistics
Aug 1, 2021
$200 mn
Primaseller
Mar 3, 2021
–
Delhivery, which is eyeing the filing of its Draft Red Herring Prospectus (DRHP), has already issued bonus shares to shareholders. The logistics and supply chain startup held an extraordinary general meeting (EGM) on September 29, where it announced that it would allot fully paid-up 1.68 Cr bonus shares worth INR 10, to equity shareholders. This will be in the ratio of 9:1.
The logistics unicorn has allotted 1,68,46,803 shares of Rs 10 each, which increased the total number of shares from 18,71,868 to 1,87,18,670 bonus shares. These shares would be allotted to 90 existing equity shareholders of the company, as per the reports dated October 4, 2021.
The company has allotted 12.29 Lakh bonus shares, where the Founder of the company, Sahil Barua boasts of having the highest shares when it comes to the founders of the startup. Times Internet and CPPIB are the other prominent shareholders, which were allotted 28.53 Lakh and 23.80 Lakh shares respectively, which are the highest that the investors of the company got.
Delhivery – Future Plans
Delhivery will continue to aggressively invest in building trucking infrastructure and is planning to invest up to Rs 300 crore in the next 24 months to expand its fleet size. The company announced it has set up a fully owned subsidiary, Delhivery Robotics Pvt Ltd, to focus on drone technology research and manufacturing.
The Chief Operating Officer of Delhivery, Ajith Pai explained Delhivery’s global strategy, highlighting its focus on connecting India with the world rather than building a physical network abroad. He emphasized that the company prioritizes smooth access into and out of India over setting up operations overseas.
FAQs
Who are Delhivery Founders/Owners?
Delhivery was founded by Bhavesh Manglani, Kapil Bharati, Mohit Tandon, Sahil Barua, and Suraj Saharan.
Which is Delhivery Parent Company?
Delhivery Pvt Ltd. is the company that owns Delhivery.
What is Delhivery courier service?
Delhivery offers a full suite of services such as last-mile delivery, third-party and transit warehousing, reverse logistics, payment collection, vendor-to-warehouse, vendor-to-customer shipping, and more.
Who is the CEO of Delhivery?
Sahil Barua is the Founder and CEO of Delhivery.
How does Delhivery delivery tracking work?
Delivery tracking uses a unique tracking number to monitor a package’s journey from dispatch to delivery. Customers can check its status and location in real-time via the courier’s website or app.
Who are the Top Competitors of Delhivery?
As Delhivery is a logistics company, it is obvious that it has great competition in the market. Some of the very state rivals are:
Ecom Express
DotZot
FSC (Future Supply Chain)
BlackBuck
Delex
Delivery.com
How can you use Delhivery tracking?
You can easily use the Delhivery tracking facility by simply visiting the Delhivery homepage and the “Track your order” section, where you need to type Mobile Number/Tracking ID/Order No./Reference No./LTI Shipment (LRN No.) to get your order tracked effectively.
What are Delhivery courier service charges?
The Delhivery courier service charges are based on the weight of the order or parcel.
What is Delhivery Business Model?
Delhivery is a logistics company providing parcel delivery, warehousing, and supply chain services. It focuses on e-commerce, offering tech-driven solutions to manage shipping and fulfillment. Revenue comes from service charges and additional offerings like warehousing.
Where is hq of Delhivery?
The headquarters of Delhivery are located in Gurugram.
Is Delhivery a unicorn?
Yes, Delhivery is a Unicorn.
Who owns Delhivery?
Funds own the majority of Delhivery, a logistics company, with 74.98% of the shares.
What is Delhivery Net Worth?
Delhivery’s latest financial report shows it has net assets worth INR 92.50 billion.
The allocation of 7.8 lakh equity shares for the exercise of vested options under its employee stock option plan (ESOP) has been approved by logistics giant Delhivery. In an exchange filing, Delhivery Limited stated that on December 10, 2024, the stakeholders’ relationship committee authorised the issuance of 7,84,927 equity shares with a face value of INR 1 each, fully paid up against the execution of vested options. The allocation of these shares was made under ESOP 2012 for 1.96 lakh shares, ESOP II 2020 for 1.2 lakh shares, and ESOP III 2020 for the remaining 4.6 lakh shares.
The firm has fixed the exercise price for 96,350 stock options under ESOP 2012 at INR 29.85, 1,915 stock options at INR 16.28, 95,882 stock options at INR 1, and the remaining 2,200 stock options at INR 0.1. The exercise price for all stock options under ESOP II 2020 and ESOP III 2020 is INR 0.10.
Marginal Increase in Paid-Up Capital
The startup’s paid-up capital climbed slightly to INR 74.3 Cr from INR 74.2 Cr after these shares were allocated. Delhivery‘s stock was down 0.67% from its previous closing of INR 380.85 at 1:26 PM, trading at INR 378.30. This occurs at a time when Delhivery recently added 20,000 new stock options to the pool size of its ESOP 2012. The business also distributed 8.6 lakh equity shares under its ESOPs a few months ago.
Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati founded Delhivery, a logistics, supply chain, and transportation firm, in 2011. Amazon Shipping, Flipkart‘s Ekart Logistics, Blue Dart, and Xpressbees are some of the competitors of the logistics powerhouse.
Notably, Delhivery approved the allocation of 6,15,930 equity shares with a face value of INR 1 just one month prior to the current ESOP expansion. In addition, on September 2, it granted 63,538 stock options to qualified workers.
Current Financial Dynamics
Anindya Ghose, a non-executive independent director of Delhivery, resigned last week, citing a number of personal obligations. Additionally, the startup intends to intensify its focus on speedier delivery services by establishing a network of multi-tenant dark stores that would offer e-commerce businesses swift delivery. Compared to a loss of INR 102.9 Cr in the same quarter last year, Delhivery reported a consolidated net profit of INR 10.2 Cr in the second quarter of FY25. In the quarter under review, service revenue increased 13% to INR 2,189.7 Cr from INR 1,941.7 Cr in the same period last year.
In an effort to reward and retain its staff, Delhivery Limited, a well-known logistics company, announced the extension of its employee stock option plan (ESOP) pool, awarding 6,49,547 equity shares.
According to a formal exchange filing, this allocation was approved by the Stakeholders’ Relationship Committee on July 8, 2024. Delhivery’s paid-up share capital has increased from INR 73.85 crore to INR 73.91 crore as a result of this most recent allocation. The newly awarded ESOPs are worth about INR 25.4 crore based on the most recent opening stock price.
In little more than a month, Delhivery’s ESOP pool has grown three times with this allocation. The business granted 36,525 stock options to the ESOP 2012 plan earlier in July. Before that, Delhivery had added 11.06 lakh stock options to the ESOP pool in June.
Performance in Terms of Finances and Strategic Initiatives
Delhivery has experienced financial difficulties in spite of these calculated attempts to raise staff engagement. Compared to the net profit of INR 11.7 crore reported in the previous quarter, the company’s consolidated net loss for the fourth quarter of FY24 was INR 69 crore.
A decrease in express parcel and cross-border service volumes was the main cause of the 5% quarter-over-quarter drop in operations revenue to INR 2,076 crore. Delhivery has also revealed plans to establish Delhivery Robotics India as a wholly-owned subsidiary in keeping with its strategic growth ambitions.
This new business endeavour, which reflects Delhivery’s dedication to innovation and growth in logistics solutions, intends to produce drones and offer freight air transportation services.
Current Patterns in the Market
The expansion of ESOP pools is not a Delhivery-specific trend. Significant ESOP allocations have also lately been announced by a number of other cutting-edge software businesses.
For example, Nykaa distributed over 4.73 lakh ESOPs last month, and Paytm distributed over 2.81 lakh ESOPs recently. These actions are part of a larger industry trend that uses ESOPs as a tool to draw in, inspire, and keep top people in a cutthroat market.
Paytm Expands ESOP Pool
Similar to this, One97 Communications-owned Fintech giant Paytm stated that it has expanded its employee stock option plan (ESOP) pool by giving its employees 281,394 equity shares. This move is typically made to retain talent.
In a July 7 stock exchange filing, Paytm stated that it has authorised the distribution of 281,394 equity shares, fully paid-up, with a face value of INR 1 each, to qualified workers.
According to the business release, the shares would be distributed under the Employee Stock Option Schemes of 2008 and 2019. Paytm stated that the change would raise its issued, subscribed, and paid-up equity share capital to INR 636,274,090, which would be made up of 636,274,090 equity shares with a face value of INR 1 each.
On 16 September 2024, the supply chain management company Delhivery announced that it has formed a partnership with Teamglobal Logistics to provide ocean freight services, with a particular emphasis on both inbound and outbound logistics. With the strategic partnership, Delhivery will be able to provide its Less than Container Load (LCL) service to more than 120 countries. In return, Delhivery will be able to provide in-land services of its Part Truckload (PTL) shipping solution within India to Teamglobal through its more than 18,700 pin codes, as stated in a statement released by Delhivery.
Using a combination of land, sea, and air means of transportation, Teamglobal Logistics is the largest LCL operator in the country. They provide transportation services between all of the major international cargo centers.
Partnership Provides an Integrated Solution
According to the official statement, the cooperation offers an integrated solution to the usual problem that Indian firms face when they have to deal with multiple service providers in order to arrange the transportation of their cargo from their origins to worldwide destinations and vice versa.
According to Delhivery, this also tackles the challenge that businesses face when trying to find a service provider on a national basis to meet their ground transportation needs.
According to the company, the fully integrated network of express and freight solutions, which is supported by technology-enabled tracking and an in-house regulatory clearance centre, would be beneficial to the growth of enterprises that are interested in engaging in international trade.
Leadership Remarks
Delhivery’s Senior Director of Global Operations, Navneet Khandelwal, expressed that the firm is overjoyed to have formed a collaboration with Teamglobal, a company that is at the forefront of the Less than Container Load shipping industry. Delhivery plans to pass on the benefits of this partnership to its enterprise and small and medium-sized enterprise (SME) customers across India.
Teamglobal’s Vice President, Sujit Baral, noted that Delhivery’s vast coverage ensures that Teamglobal’s service is available in practically any inland point in India via the largest Part Truckload network. This allows Teamglobal to provide its customers with an exceptional experience throughout the final mile of their journey. Firm is looking forward to the relationship because it has a common ground for striving for process improvement and providing customers with technology-enabled experiences.
The logistics industry is the backbone of every economy. In the last few years, the eCommerce industry is flourishing in a big way. The growth of eCommerce websites in India enabled startups dealing in logistics to scale up their business and tap into other areas through technology. This allowed them to solidify the existing supply chain solutions and fill the gaps in the otherwise fragmented and unorganized Indian logistics industry.
The current value of the Indian Logistic sector is $160 Billion. At the current growth rate, the Indian logistics industry has reached $250 billion in 2021. As per a 2021 report, India’s LPI (Logistics Performance Index) rank is 35. In this article, we will talk about the top Logistics startups in India. So, let’s take a look at them.
Founders: Bhavesh Manglani, Kapil Bharati, Mohit Tandon, Sahil Barua, and Suraj Saharan
Location: Gurgaon
Year Founded: 2011
Delhivery Logo
Founded in 2011, Delhivery is one of India’s leading supply chain services. It is a Gurgaon-based shipping startup. Delhivery is one of the last mile delivery startup companies in India. It envisions becoming the operating system for India. Delhivery’s business model only deals with e-commerce orders; this makes it easy for Delhivery to pick up, connect, and deliver shipments on time. According to its official website, Delhivery has successfully fulfilled over 1 billion orders for more than 55 million households across India. Moreover, the venture brings unparalleled cost efficiency and has a pan-India reach to businesses of over 100,000 customers and over 15 million consumers every month. The latest round of funding was on May 11, 2022.
BlackBuck
Founders: Chanakya Hridaya, Rajesh Yabaji, and Ramasubramaniam
Location: Bangalore
Year Founded: 2015
BlackBuck Logo
Formed in 2015, BlackBuck has become India’s largest trucking network by combining data science and logistic services to create a smart supply chain. BlackBuck is one of the few online trucking logistics startups in India. It is a pioneer in bringing the offline operations of trucking online. BlackBuck is committed to making life easier for truckers by allowing them to book a load and move at capacity and enabling shippers access to the right truck, all at the click of a button. The latest round of funding was on October 21, 2021.
Rivigo
Founders: Deepak Garg and Gazal Kalra
Location: Gurgaon
Year Founded: 2014
Rivigo Logo
Rivigo is a technology venture building the material movement pipeline of India. Rivigo’s vision is to make logistics ‘human’. Deepak Garg and Gazal Kalra are the founders of Rivigo. While making logistics human, faster, safer, and cost-effective through excellence in technology, data, culture and operations, it services multiple industries such as e-commerce, automotive, FMCG, and others.
Rivigo has launched a Relay-as-a-Service (RaaS) to offer a relay trucking model to fleet owners and truck drivers in India. Relay Trucking is an operating model wherein drivers change over every few hundred kilometres of driving through a network of relay pit-stops and then get rostered back to their home base. Rivigo launched the National Freight Index in 2019. National Freight Index enables unrestricted, real-time sharing of freight pricing. It has the potential to unlock immense value for the logistics industry.
Edgistify
Founders: Kamal Kishore Kumawat, Antim Suman, and Umang Shukla Location: Mumbai
Year Founded: 2016
Edgistify Logo
Edgistify is a one of its kind tech platform for logistic firms that aids them in designing the entire supply chain for different industries. It is one of the top logistics startups in Mumbai. As a manufacturer, one needs a reliable warehouse which doesn’t cause problems at present and in the future. Edgistify helps you find the best warehouse in India. It verifies warehouses by inspecting them and making the details available on its website. This way you have the required information at your fingertips if purchasing a warehouse interest you. According to Edgistify’s official website, it has developed a databank of more than 780 Million Sq. ft. of warehousing space.
First Flight
Founder: O. P. Saboo
Location: Goregaon, Mumbai
Year Founded: 1988
First Flight Logo
First Flight provides services such as priority couriers, e-commerce logistics, air cargo, and train cargo. First Flight is one of the top courier startups in India. It has partnered with Jabong, Myntra, Paytm, Home Shope18, amazon, shop clues, Flipkart, and other major e-commerce companies. First Flight is India’s domestic courier service. The company is in the process of setting up a large-scale integrated logistics division to offer an entire amount of warehousing, inventory management, supply chain services, and distribution channels, thereby providing total end-to-end solutions to its customers.
ShiftKarado
Founder: Atul Mithal
Location: Gurgaon
Year Founded: 2015
ShiftKarado Logo
Launced in 2015 with the aim to resolve the then-prevailing issues in the relocation industry, ShiftKarado is among the leading technology-driven packing and moving services providers in India. It operates in the competitive, unorganized relocation market to simplify the moving process for its customers. They provide you with the opportunity to track your goods in a real-time movement. ShiftKarado’s last raise was 5 Crores funding in 2019 by Star Worldwide Group.
4TiGO
Founders: Vivek Malhotra and Anjani Mandal
Location: Bangalore
Year Founded: 2015
4Tigo Logo
Founded in 2015, 4TiGO provides a common technology platform along with complementary business services. It is one of the most promising supply chain startups in Bangalore. 4TiGO’s mission is to empower the ever-growing goods transportation industry ecosystem through the synergy of technology and networking. It has raised $10 million in a single round of funding that was held on May 2, 2017.
Shadowfax
Founders: Abhishek Bansal and Vaibhav Khandelwal
Location: Bangalore
Year Founded: 2015
Shadowfax Logo
Founded in 2015, Shadowfax is one of India’s largest crowd-sourced delivery platforms. Its unique logistics app enables the delivery of food, pharmacy and e-commerce for businesses and helps them generate customer satisfaction. According to its website, Shadowfax provides services in 150+ cities with over 1,50,000 transactions being processed by it on an average every day. Shadowfax has raised $60 million in funding. The last round of funding was on December 5, 2019.
Founded in 2015, Locus is a machine learning startup focused on simplifying the field of logistics. The logistics startup uses artificial intelligence to solve problems such as scheduling, tracking, and the management of on-field fleet in on-demand and hyper-local industry segments. Locus caters to startups, enterprises and brands across various sectors like grocery, furniture, pharma, and consumer electronics. The startup boasts of serving some of the market leaders such as Quikr, Urban Ladder, Licious, and Lenskart. The latest round of funding was on June 2, 2021.
LetsTransport
Founders: Ankit Parasher, Pushkar Singh, and Sudarshan Ravi
Location: Bangalore
Year Founded: 2015
LetsTransport Logo
LetsTransport is an intra-city logistics service provider in Bangalore. It is a transport startup in India. Vendors tend to have many clients within their home base and are required to deliver goods to shops and offices within the city. LetsTransport provides logistic service within your city through verified drivers, etsTransportsGPS tracking, and 24/7 service.The latest round of funding for LetsTransport was on June 15, 2020.
Qikpod
Founder: Ravi Gururaj
Location: Bangalore
Year Founded: 2015
Qikpod Logo
Qikpod is a platform that allows you to get the delivery of your parcel using safe and secure lockers. You need to provide the details about your delivery person to Qikpod, and he will deliver the parcel to you in a Qikpod locker. This method of delivery guarantees safety as you can unlock the locker only with an OTP sent on the phone. Presently, Qikpod caters only to the people of Bengaluru. Business tycoon Ratan Tata is one of Qikpod’s investors.
FreightBro
Founders: Anand Babu, Mohammed Zakkiria. A, and Raghavendran Viswanathan
Location: Mumbai
Year Founded: 2016
FreightBro Logo
Founded in 2016, FreightBro provides intuitive solutions which work at the touch of a button. It is one of the top logistics companies in Mumbai. In today’s world that’s dominated by technology, doing business offline is an inefficient way of functioning. FreightBro provides you with high-tech solutions to speed up your day-to-day business activities so that you only focus on the core business. It goes beyond the role of a service provider by acting as an advisor as well. A true business partner indeed.
Blue Dart
Founders: Tushar Jani, Khushroo Dubash, Clyde Cooper, and Clyde C. Cooper
Location: Mumbai
Year Founded: 1983
Blue Dart Logo
Blue Dart Express is one of the largest logistics companies in India, and South Asia’s premier expresses air and integrated transportation/distribution company. Blue Dart accesses the largest and most comprehensive express and logistics network worldwide, covering over 220 countries and territories, and offers an entire spectrum of distribution services. These include air express, freight forwarding, supply chain solutions, customs clearance and others.
Conclusion
With the growing e-commerce business, the logistics business is also showing its growth. At this point in time, the logistic business in India is enjoying full popularity and flourishing from every side. If anyone is looking to start with their own logistic business, they are in for a good show. With the current situation, it seems like the popularity of the logistic business will only grow in the future and it’s just a start.
FAQs
Is the logistics business profitable in India?
Logistics businesses are seeming to increase in popularity with the increase of the e-commerce business and have now become a lucrative industry in India.
How much the logistics business in India is worth?
The logistics sector in India is currently worth $250 billion in 2021.
Which is the No.1 Logistics company in India?
Blue Dart is said to be the No.1 logistics company in India.
The ride throughout the year 2021 was a turbulent one. There were many things taking place simultaneously. Many things were also happening for the first time or creating records. One of the similar record-breaking things that occurred throughout the year 2021 was the companies going public.
More than 63 companies went public in 2021 together raising the amount of Rs 1,19,882 crore. This was the newest formed record of raising the highest funds through IPOs breaking the old record of Rs 75,279 crores formed in 2017.
Following the given data and current market conditions. There can be some debate on Indian Companies going public. Amongst the list of multiple companies going public, below given is the list of startups and companies going public in India in 2022.
Bajaj Energy Ltd. is an Uttar Pradesh based company launched in 2008 working in the field of thermal energy plants. It is one of the largest private-sector thermal generating companies dealing with the financing, operating, and generating of thermal power. The recorded revenue for the year 2021 was above the range of 500 cr.
Bajaj Energy is also listed in the companies going public to pay debts and acquire partners’ stakes. With the listing, the company intends to raise Rs 5450 crores. Amongst them, Rs 5150 crores belong to the newly issued IPO, and the remaining Rs 300 crores an offered for sale shares.
2. Aadhar Housing Finance
Aadhar Housing Finance Logo
Aadhar Housing Finance is the largest housing finance company launched in 1990. The revenue collected by Aadhar Housing Finance in 2021 was about 1363.36 crores rupees. For the year 2022, Aadhar Housing Finance is listed as an IPO with an issue size of Rs 7300 crores. The funds collected will be used to boost their capital base. Amongst Rs 7300 crores, freshly issued shares are worth Rs 1500 crores, and the remaining Rs 5800 crores are offered as a resale.
3. Studds Accessories
Studds Accessories Logo
Studds Accessories is a well-known name for two-wheeler accessories. It was introduced in 1983 to provide two-wheeler accessories and related products. The revenue collected by Studds Accessories in 2021 was about Rs 479.62 crores. Studds Accessories will take the chance to raise Rs 450 crores with Rs 98 crores as a freshly issued and Rs 39.39 lakhs as an offer for shares by going public in 2022.
4. Arohan Financial
Arohan Financial Services Logo
Arohan Financial Services is the leading Non-banking financial company- a microfinance institute launched in 1991. It provides loan services in financially low-Income states of India. The operating revenue calculated by Arohan Financial Services in 2021 was above Rs 500 crores. Arohan Financial is also listed for IPO with an issue size of Rs 1800 crores. Amongst them, Rs 850 crores will be issued freshly and the remaining will be Offer for sale (OFS).
5. ESAF Small Finance Bank
ESAF Small Finance Bank Logo
ESAF Small Finance Bank is one of the leading banks introduced in 2016. The bank works towards providing several services such as client base size, net interest margins, etc. The operating profit recorded by ESAF Small Finance Bank in 2021 was about Rs 415.84 crores, a 28.07% increase from earlier. ESAF Small Finance Bank is also listed as a company going public in 2022 with a total issue size of Rs 998 crores. Within them, the freshly issued size is Rs 800 crores and the remaining Rs 198 crores are from OFS.
6. OYO
OYO Logo
OYO is a new-age technology platform giving out hospitality services. It is one of the leading platforms in the hospitality sector since the time of its introduction in 2012. The total revenue of OYO for 2021 was about Rs 41750 crores. There was a drastic decrease noticed in the revenue of OYO from 2020 to 2021 all because of the pandemic. However, for a better future, OYO is also listed for IPO 2022 with a total issue size of about 8430 crores with freshly issued shares of Rs 7000 crores and an offer for sale of Rs 1430 crores.
7. Snapdeal
Snapdeal Logo
Snapdeal is an Indian leading e-commerce company founded in 2007. Snapdeal was originally launched as a coupon booklet platform, however, in 2010, it was fully converted into an online shopping platform.
Revenue collected by Snapdeal in the year 2021 was about Rs 471 crores which was about 44% less than the previous year. Snapdeal is all prepared to raise funds from the IPO of freshly issued shares of Rs 1250 crores and some other OFS shares of the present investors and shareholders.
8. Delhivery
Delhivery Logo
Delhivery is a new age India-based logistics service company inaugurated in 2011. Delhivery works towards providing multiple facilities such as express parcel deliveries, good deliveries, cross-border supplies, etc. The revenue collected by Delhivery in 2021 was Rs 4644 crores with a 28% increment seen in its total income from the previous year.
Delhivery is also set to raise funds in 2022 by IPO with an issue size of Rs 7460 crores. Amongst them, Rs 5000 crores can be counted as freshly issued and the remaining shares can be taken as OFS.
9. Emcure Pharmaceuticals
Emcure Pharmaceuticals Logo
Emcure Pharmaceuticals is considered one of the leading pharmaceutical companies engaging in various services such as developing, manufacturing, and marketing medicines at a large level. Emcure was introduced in the year 1981 and now is considered the largest brand helping in the therapeutic areas of gynaecology, HIV antiviral, etc.
The revenue collected by Emcure Pharmaceuticals in 2021 was about Rs 6091.8 crores with a significantly increased income of Rs 418.6 from the previous year’s data. Emcure will also be raising funds through IPO for newly issued equity shares of Rs 1100 crores and some other OFS shares.
10. FabIndia
FabIndia Logo
FabIndia is India’s largest platform especially popular for its handmade products. It is a private platform that enables the sale of products made from traditional methods, skills, and techniques.
FabIndia was launched in 1976. The revenue collected by FabIndia in 2021 was about Rs 1059 crores with a fall of 30% in its revenue when compared with previous years’ data. FabIndia is looking forward to raising the funds through IPO for its purpose of global expansion by the issue size of Rs 4000 crores.
Droom is an operated marketplace easing out the process of buying and selling automobiles through its platform introduced in the year 2014. Droom operates with the help of a combination of an e-commerce platform integrated with a technology-driven prosperity ecosystem of products and services for the automobile industry.
Droom reported revenue of Rs 135.53 in the year 2021 with a slight increment noticed from the data for 2020. Droom will be going public to raise funds of an issue size of Rs 3000 crores.
12. Ixigo
Ixigo Logo
Ixigo launched in 2007 and operated by Le Travenues Technology is an Indian AI-based travel portal. It works to facilitate travelling by helping Indians with planning, booking and managing their trips of different modes. The recorded revenue of Ixigo in 2021 was about Rs 135.6 crores with a reported increment of 21% in its revenue from the previous year.
The list of IPO for 2022 also includes the name of Ixigo with a total issue size of about Rs 1600 crores. Within them, Rs 750 crores will be raised with freshly issued equity shares and the remaining Rs 850 crores will be OFS.
13. VLCC Healthcare
VLCC Logo
Vandana Luthra Curls and Curves (VLCC) is an Indian brand focusing on beauty and wellness products introduced in the year 1989. VLCC products are popular in the field of wellness and beauty products. Along with that, VLCC also works by training students with more than 95 institutes across India.
In the year 2021, VLCC reported a net income of about Rs 5,652.42 million, with a profit of Rs 62.42 million. In 2022, VLCC is expected to go public with the issue size of Rs 300 crores of newly issued equity shares and some OFS.
14. Hinduja Leyland Finance
Hinduja Leyland Finance Logo
Hinduja Leyland Finance Limited was incorporated in 2008 with the service of providing NBFC services to urban and semi-urban markets. It provides financing help for a large range of products falling in the category of vehicles and housing finances. The net worth of the company as reported by Hinduja Leyland Finance Limited in the year 2021 was about Rs 3825 crores.
There were significant changes seen between the years 2020 and 2021 due to the visible effects of a pandemic. Hinduja Leyland Finance Limited is about to raise funds from its initial public offerings of an issue size of Rs 700 crores. Amongst them, Rs 500 crores are freshly issued equity shares with the remaining as OFS.
15. Inspira Enterprise India
Inspira Logo
Inspira Enterprise India Pvt Ltd is a competent and professional provider of cyber security introduced in 2009. They provide digital transformation and cybersecurity services to their clients with bold thinking and path-breaking techniques.
The revenue collected by the company for the year 2021 was about Rs 803 crores. Inspira Enterprise India is also listed to go public in 2022 with an issue size of Rs 800 crores for foreign expansion.
16. Medi Assist
Medi Assist Logo
Medi Assist Healthcare Services Ltd offers a complete cashless hospitalization of customers through a network of healthcare service providers. It was launched in the year 2000 and mainly deals with the health insurance ecosystem. Medi Assist is also ready to raise funds through IPO in 2022 with a total issue size of about Rs 800 crores.
17. SAMHI Hotels
SAMHI Hotels Logo
SAMHI Hotels is one of the fastest-growing hospitality management companies since the time of its introduction in 2010. SAMHI Hotels mainly focus on the investment and development of international branded hotels across India.
From the year 2020 to the year 2021, there was a decrease in the revenue of SAMHI Hotels due to the presence of the pandemic period. SAMHI Hotels has a registered IPO of issue size Rs 2000 crores with Rs 1100 crores will be freshly issued shares.
18. Chemspec Chemicals
Chemspec Chemicals Logo
Chemspec Chemicals is a leading manufacturer of additives for FMCG ingredients worldwide. It was established in 1975. Chemspec Chemicals is also known to supply and manufacture Pharmaceutical drugs. Chemspec Chemicals has recorded its operating revenue to cross Rs 500 crores and it is estimated to go public with an IPO size of Rs 700 crores.
19. Shri Bajrang Power And Ispat
Shri Bajrang Power And Ispat Logo
Shri Bajrang Power And Ispat was founded in 2002 and is considered a major steel producer. It is considered one of the leading integrating steel companies working towards providing different products such as TMT bars, billets, sponge iron, etc.
As per the president of the company Shri Bajrang Power And Ispat, the revenue noted for the year 2021 was around Rs 3,031.21 crores with a net profit of Rs 312 crores. It is also listed for IPO with an issue size of Rs 700 crores planning to halve its debt by using funds.
20. SREI Equipment Finance
SREI Logo
Established in 1989, SREI Equipment Finance deals with infrastructure financing services throughout India. The company provides a loan facility for the purchasing of various equipment used in the construction industry, irrigation, IT infrastructure, etc.
The recorded revenue of SREI Equipment Finance is about Rs 522.78 crores in 2021. The company is looking to launch its IPO at the desired time with an issue size of Rs 2000 crores. In them, 1100 are freshly issued equity shares and the remaining are OFS.
Launched in 2008, Gemini Edibles and Fats Oil works in the business of manufacturing and marketing edible oils and fats. They are also considered one of the leading palm oil plantation companies across the globe. For the year 2021, the revenue collected by Gemini Edibles was about Rs 7,765.96 crore with Rs 185.85 crores.
Unlike other businesses, Gemini Edibles saw not much change in its demand as the demand for cooking oil was increased by houses whereas, on other hand, restaurants and hotels saw a sharp decline in demand hence equalizing the situation. For the year 2022, Gemini Edibles and Fats Oil are listed under the IPO list with an issue size of Rs 2500 crore from OFS.
22. Sterlite Power
Sterlite Power Logo
Sterlite Power founded in 2010 works as one of the leading private sector power transmission infrastructure developers and solutions providers. Sterlite Power owns and manages power transmission assets across India.
As per calculations the revenue collected by Sterlite Power is above Rs 500 crores but with a 26% decline in its operating revenue from the previous year’s data. Sterlite Power is listed in the IPO list 2022 with a freshly issued size of Rs 1250 crores. The raised funds will be mainly used to repay its debt.
23. Paradeep Phosphates Limited
Paradeep Phosphates Logo
Paradeep Phosphates Limited [PPL] was established in 1981 and is now considered India’s third-largest producer of non-urea fertilizer and the second-largest producer of di-ammonium Phosphate. PPL deals with the production, trading, and distribution of various fertilizers.
The total revenue recorded by PPL for the year 2021 was about Rs 5183.94 crores which was slightly higher than last year. PPL is planning to raise Rs 1255 crores from fresh sizes issued. These funds will be used to pay debts and to partly finance the acquisition of a fertilization manufacturing company in Goa.
24. Fincare Small Finance Bank
Fincare Logo
A smart banking platform launched in 2017 with its prime focus on unbanked and underbanked customers to get banking services with smart technology. The model of Fincare works by providing needed financial aid to businesses or individuals through the help of technology.
The revenue collected by Fincare in 2021 was about Rs 674.99 crore with a net profit of Rs 101.98 crores. Fincare Small Finance Bank is also known to raise funds through Initial Public Offerings of the issue size of Rs 1330 crores. Amongst them, 330 shares are newly issued and all others are from OFS.
Penna Cement is known to have its revenue above Rs 500 crores for the year 2021 with a significant increment of 13.06% in its net worth. Penna Cement is expected to raise a total of Rs 1550 crore through IPO. The funds raised will be then used to pay for borrowings, upgrading its law griding and cement mill, setting up a waste heat recovery plant, etc all at different places.
26. PharmEasy
Introduced in 2014, PharmEasy is a one-stop medical solution providing. They provide complete services from the booking of diagnostic tests to providing Over the counter medicines. They provide medical services such as radiology tests with the home delivery of needed products. The revenue collected by PharmEasy in 2021 was about Rs 2360 crore. PharmEasy has also participated in the upcoming IPOs list with an issue size of Rs 6250 crores.
27. Adani Wilmar
Adani Wilmar Logo
Adani Wilmar, founded in 1999 is one of the leading names in the edible oil industry. One of the most popular edible oils of Adani Wilmar is Fortune Oil. Adani Wilmar was known to be open on 27 January with a subscription of 17.37 times.
28. AGS Transact Technologies
AGS Transact Technologies Logo
Founded in 2002, AGS Transact Technologies is considered one of the largest integrated omnichannel payment solutions providers in India. They provide customized services and products mainly consisting of ATM and Cash recycler machines outsourcing, cash payment and digital payment solutions, etc.
The company recorded its revenue for the year 2021 as Rs 484.76 crores with a slight increment noticed in the revenue. For the year 2022, AGS will be going public with a total issue size of Rs 680 crores of IPO.
29. Vedant Fashions
Vedant Fashions Limited Logo
Introduced in 2022, Vedant Fashions Limited is a parent enterprise for some well-known brands such as Manyavar, Mohey, and Mebaz. The company Vedant Fashions Limited is considered a one-stop solution for every occasion by its customers.
The company was recorded to calculate less revenue collected from the year 2020. There was a gradual increment in its revenue from the year 2019 to the year 2020. However, it called for 38% in the year 2021 owing to the pandemic period. For 2022, Vedant Fashion is listed for raising funds through public offerings by the size of Rs 3149.19 crores.
30. Uma Export
Uma Exports Logo
Founded in 1988, Uma Export earlier was known to export and import building materials, however, in the current scenario, it is one of the leading exporters of agricultural products. The agricultural products are collected from the various parts of India to export and import to certain destinations.
The recorded revenue by Uma Export in 2021 was around Rs 260.94 crores with a net profit margin of around 1.72%. Uma Export is listed to raise funds by public offerings in 2022 with an issue size of Rs 60 crores.
Introduced in 1986, Ruchi Soya is the largest producer of edible oil in India. In 2019, Ruchi Soya was acquired by Patanjali Ayurved. Ruchi Soya has its prime focus on the business of processing oilseeds and refining crude oil to make it edible. Ruchi Soya is listed as Follow Public Offerings (FPO) consisting of freshly issued shares of about Rs 4300 crores.
32. Veranda Learning
Verdana Learning Solutions Logo
Established in 2018, Verdana Learning Solutions Private Limited is an e-learning platform giving out various career-defining courses. Courses can be found in a range of fields preparing one for the competitive exams or personal growth. The revenue collected by Veranda Learning in 2021 was around Rs 4.86 crores and a slight decline in its net profit margin. Veranda Learning is also listed for IPO with an issue size of Rs 200 crores.
33. Skanray Technologies
Skanray Technologies Logo
Incorporated in 2007, Skanray Technologies is considered one of the well-known players in the Indian medical device market. Skanray Technologies’ prime focus is to design, develop, manufacture and supply medical devices.
In the early five months of 2021, the revenue collected by Skanray Technologies was about Rs 88.8 crore rupees. The IPO size of the company is about Rs 400 crores. The funds will be invested in the required capital investment of the company along with some other basic investments such as inorganic plants and the company’s subsidiaries.
34. Five Star Business Finance
Five Star Business Finance Logo
Founded in 1984, Five Star Business Finance provided small loans to business owners and small mortgage loans to eligible candidates for their needs. It is registered with RBI as an NBFC company working with its underwriting model to provide secured finances. Five Star reported a gradual growth in its total income from the year 2020 to the year 2021 by the amount of Rs 787 crores to Rs 1051 crores respectively. The Five Star IPO issue size is Rs 2752 crores and it all comprises OFS.
35. Keventer Agro
Keventer Agro Logo
Introduced in 1986, Keventer Agro is considered the largest FMCG company in eastern India with its focus on packaging, dairy, and fresh food products. The company deals with multiple aspects of the food industry such as frozen food, beverages, export for food, etc.
The recorded revenue for the year 2020-2021 was around Rs 836.02 crores with a net loss of Rs 76.17 crores. The IPO size of Keventer Agro is about Rs 350 crores fresh issued and some other OFS. The funds will be used to be paid as debt and as a fund for the capital expenditure required by the company.
36. Tracxn Technology
Tracxn Technology Logo
Founded in 2013, Tracxn Technology is the combination of human analysts with Artificial Intelligence to work for the benefit of humans. It is considered a research firm that provides needed information for venture capitalists and corporate development offices through a large amount of data.
Tracxn reported a revenue of 100 crores with 70% of its revenue coming from outside of India. For Indian Market, Tracxn’s IPO issue size will be Rs 500 crores.
37. Apeejay Surrendra Park Hotel
Founded in 1987, Apeejay Surrendra Park Hotel is a hotel company providing services such as hotel rooms, dining restaurants, recreational and entertainment facilities, and providing venues for different purposes such as weddings, birthday events, etc.
The operating revenue collected by Apeejay Surrendra Park Hotel was between Rs 100 – 500 crores with a slight decline noticed from the year 2020 due to the pandemic period. Apeejay Surrendra Park Hotel is considered to go public with the issue size of Rs 1000 crores.
38. Harsha Engineers
Harsha Engineers Logo
Starting in 1986, Harsha Engineers is considered the largest manufacturer of bearing cages with almost 50% of the market share. They provide best-bearing cages with some other special-purpose stamped components. Harsha Engineers reported revenue of Rs 629.46 crores in the year 2021. Harsha Engineers is prepared to raise the funds through public offerings by the issue size of Rs 755 crores.
39. Annai Infra Developers
Annai Infra Developers Logo
Introduced in 2008, Annai Infra Developers belongs to the construction industry. They construct and sell multiple products such as water tanks, ponds, canals, roads, irrigation systems, etc. Annai Infra Developers will also be raising funds through IPO in the year 2022 of the issue size of Rs 250 crores.
40. Prudent Corporate Advisory Services
Prudent Logo
Started in 2000, Prudent Corporate Advisory Services Ltd is a leading investment providing solution company. It mainly deals with the financial services products such as Mutual funds, insurance, bonds, etc. The revenue for Prudent Corporate was counted as $412 million. Prudent Corporate is all prepared to raise its IPO in 2022 with yet to be declared OFS.
41. Tamilnad Mercantile Bank
Tamilnad Mercantile Bank Logo
Previously known as Nadar Bank, it was introduced in 1921. Tamilnad Mercantile Bank is one of the oldest private sector banks in India. Tamilnad Mercantile Bank calculated its revenue of 3,992.52 crores in 2020. For the year 2022, it is believed to raise funds through Public Offerings of 15.83 million freshly issued shares and 12.505 million shares from OFS.
42. Narmada Bio-chem
Narmada Biochem Logo
Established in the year 1996, Narmada Biochem is known to serve farmers for more than two decades. They are the leading manufacturer of world-class organic and biofertilizers. Narmada Biochem is noted to have its revenue in the range of Rs 100 – 500 crores. For the year 2022, it is planning to raise funds with an issue size of Rs 90 crores.
43. Popular Vehicles and Services
Popular Vehicles and Services Logo
Founded in 1984, Popular Vehicles and Services were introduced as the first batch of vehicle dealers by Maruti Suzuki. They are one of the popular automobile dealers with regional specific markets and centers The revenue noted by Popular vehicles and services in 2021 was around Rs 2,919.25 crores. They are also prepared to raise funds through IPO with an issue size of Rs 150 crores.
44. Fusion Microfinance
Fusion Microfinance Logo
Fusion Microfinance was started in 2010 with the thought of creating opportunities at the bottom of the pyramid. They provide financial help to un-served and underserved females from rural India. They focus mainly on increasing the come individuals to help increase the economic growth and prosperity of the whole country.
The noted revenue of the firm Fusion Microfinance in 2021 was about Rs 730.31 crores. They are also determined to raise funds through IPO 2022 by the issue size of Rs 600 crores and an additional OFS with 2,19,66,841 equity shares.
Conclusion
IPOs stand for Initial Public Offerings shared by any company or firm. Companies start taking investments from the public in return for the share of the firm. The amount collected by companies is then used for the advancement of the same firm. Many companies are opening up on getting public due to several situations. A list of companies going public in the year 2022 is shared above.
FAQs
Which is the best IPO in 2022?
Many IPOs are coming in the year 2022, some of the biggest and best ones are LIC. Other biggest IPOs of the year are Delhivery, Oyo, and PharmEasy.
Where can I get IPO data?
Bloomberg, Capital IQ, and CB Insights are some of the top sources to get complete information about upcoming IPOs.
