Synopsis
Delhivery had a great run with private-equity funds. Though its revenue growth has been impressive right from the word go, the startup is yet to turn in a profit. With the kind of valuation it is seeking as of now, Delhivery should have a strong pitch for public-market investors. Does it ?
When Delhivery, India’s most valued logistics startup and a darling of private-equity funds, filed its draft red herring prospectus (DRHP) last year, the stock market was buoyant. At the time, there was strong demand for New Age companies. But with investors burning their fingers in the initial public offerings (IPOs) of loss-making tech companies including Paytm and Zomato, euphoria has given way to caution.As per market sources, Delhivery is
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