Softbank to invest $350 million in Delhivery
Softbank has invested $350 million in logistics major Delhivery, a Gurgaon based company, in the process of catapulting it India’s growing list of startups with the billion-dollar valuations.
According to the reports, the Delhivery has issued 1.23 million Series F compulsorily convertible cumulative preference shares each at a premium of 20,063 to Softbank, which has invested through its Cayman Islands-registered entity SVF Doorbell.
Some other logistics company has issued 158,831 Series-F CCCPS to bulge bracket PE firm Carlyle Group, which is the existing investor of this company. The Carlyle Group has invested in the Delhivery through its entity CA Swift Investments.
As per the reports as the Softbank has invested through its $100 billion Vision Fund and the Carlyle Grupu will now hold 23.41% and 12.39% shares in the company respectively, which has emerged as the leading e-commerce-focused logistics company in the country.