FedEx will invest US$100 million in Indian logistics company Delhivery Reuters

Bangalore (Reuters)-The American express company said on Friday that as part of a long-term commercial agreement, FedEx (New York Stock Exchange ticker:) will conduct a $100 million acquisition of Indian e-commerce logistics start-up Delhi. Equity investment.

As part of the transaction, Delhivery, backed by SoftBank, will sell FedEx Express international products and services in India and provide pickup and delivery services nationwide.

FedEx also transferred some assets of its Indian operations to Delhi Freedom, allowing wider access to the Gurgaon-based startup’s pan-Indian network.

Don Colleran, CEO of FedEx Express, will also get a board seat at Delifry.

Several Indian start-up companies have already developed listing plans to capitalize on the liquidity of foreign funds. According to media reports, the startup is expected to go public as early as the fourth quarter, with a valuation of US$4 billion.

SoftBank-backed Indian digital payment startup Paytm has applied for an initial public offering, the latest in a series of unicorns planning to go public, making India one of the hottest IPO markets in 2021. The takeaway startup Zomato’s IPO subscription started earlier this week and is waiting to go public.